Twitter shares fall as Elon Musk backs out of deal

 

Shares in Twitter fell on Monday after Elon Musk announced he was pulling out of a $44bn (£36bn) deal to buy the social media platform.Mr Musk backed away after claiming Twitter failed to provide enough information on the number of spam and fake accounts on the site.


Twitter plans to take legal action to make the deal go ahead and has hired a top US law firm.Mr Musk tweeted saying Twitter would need to "disclose bot info" in court.The multi-billionaire then tweeted a picture showing American actor and martial artist Chuck Norris at a chessboard, with a follow up post saying "Chuckmate". Twitter's share price stood at about $32.64 as Monday trading closed - falling further below the $54.20-a-share takeover price agreed by Mr Musk and Twitter's board in April.

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