News > Elon Musk withdraws $44 billion bid to buy Twitter over ‘misleading representations’ 

Elon Musk withdraws $44 billion bid to buy Twitter over ‘misleading representations’ 

News-next | 09/07/2022 08:31 AM | Click to read full article

Tesla CEO Elon Musk has officially terminated his $44 billion takeover deal for social networking site Twitter over concerns about the number of fake users. Musk said on Friday that the decision was taken after Twitter failed to provide necessary information about the fake accounts.

The takeover was dragging on for quite some time and after Musk expressed his concerns, the share prices went down almost 7 per cent in the past few weeks.