Elon Musk withdraws $44 billion offer to buy Twitter
CBSN
Elon Musk is withdrawing his $44 billion offer to buy Twitter, throwing the social media company's immediate future into doubt.
In a securities filing Friday, Musk cited several material breaches of the buyout agreement between him and Twitter, including Twitter's failure to provide information he asked for.
The mercurial Tesla founder's move to abruptly pull the plug on the deal is the latest twist in a monthslong drama that pitted the world's richest person against a globally influential internet company. The contest played out largely on Twitter itself, with each side battling for leverage by strategically releasing information on the platform.
A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors. In:
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