August 8, 2022

What you need to know

  • Per a letter, Elon Musk says he no longer wants to buy Twitter.
  • The deal was valued at $44 billion.
  • Musk has notified the company, but Twitter chairman Bret Taylor says the board is looking to pursue legal action.

Tesla founder and CEO Elon Musk says he no longer wants to buy Twitter, which was first reported by Bloomberg.

This is according to a letter he submitted to Twitter “formally notifying the company that he is terminating the merger agreement.”