Business
Elon Musk cancels $44bn bid to buy Twitter
South African-born billionaire businessman, Elon Musk, has terminated the $44 billion deal with Twitter.
The Tesla founder confirmed the cancellation of the deal in a notice sent to the United States Securities and Exchange Commission on Friday evening by his attorney, Mike Ringler.
The deal, according to the filing, was called off because Musk has expressed doubt about the information provided by Twitter, especially on the platform’s spam accounts.
Musk’s decision to end the deal followed weeks of speculation about the possible collapse of the agreement.
The billionaire first declared its intention to buy Twitter weeks after buying its share.
Musk and Twitter agreed in April that if a party chose to withdraw from the deal, the defaulter would pay a fine of $1 billion.
-
Football7 days agoBanda, Chawinga make 2026 Women’s Ballon d’Or top 30 shortlist
-
Featured7 days agoPeter Obi, Makinde and the 2027 elections: Can unity really challenge APC?
-
Trending Stories5 days agoDavido, Wizkid, Burna Boy or Asake: Who is having the biggest 2026 so far?
-
Business1 week agoNigeria records N12.59trn trade surplus in Q2 2026 — NBS
-
Football5 days agoPremier League releases 2026/27 festive fixtures, 7 matches set for Boxing Day
-
Business4 days agoDangote Refinery IPO shifts spotlight to corporate governance, investor protection
-
Business3 days agoJetour Nigeria, dealers take dashing, other models to Abuja Experience
-
Crime4 days agoAnambra Police arrest mother over alleged child sexual exploitation