Twitter shares fall as Elon Musk backs out of deal
The social media site is threatening the multi-billionaire with legal action after his U-turn. …
The original merger agreement includes a $1bn (£830m) break-up fee, but instead of pushing for Mr Musk to pay the sum, Twitter wants the businessman to compete the deal. “The Twitter board is committed to closing the transaction on the price and terms agreed upon with Mr Musk,” its chairman Bret Taylor wrote in a tweet.
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