Twitter, Elon Musk renounces the purchase

Elon Musk gives up buying Twitter. The lawyers of the CeoTesla and SpaceX have notified the SEC, the company that controls the US stock exchange, of the billionaire’s intention to end the planned acquisition of the social media giant. Read Also Musk announced his intentions to end the $ 44 billion deal in a letter sent by a lawyer on his behalf to Twitter’s chief legal officer late in the afternoon today, CNBC reported. In the letter, Skadden Arps’ attorney Mike Ringler accused that “Twitter has not respected its contractual obligations.” The decision comes months after Musk had “temporarily suspended” the deal in May while waiting to verify the amount. of active fake spam accounts on the platform. Ringler said Twitter did not provide Musk with the relevant business information he requested. Musk himself previously said he wanted to evaluate Twitter’s claims that about 5% of its monetizable daily active users (mDAUs) are spam accounts. “Twitter has failed or refused to provide this information,” Ringler said. “Sometimes Twitter ignored Mr. Musk’s requests, sometimes turned them down for reasons that seem unwarranted” or provided “incomplete or unusable information” ..