Musk withdraws from $44 billion deal to buy Twitter

Tesla CEO Elon Musk and the world's richest person said he is ending his $44 billion deal to buy Twitter after the social media company breached several provisions of a merger agreement. Twitter Chairman Brett Taylor announced on the micro-blogging platform that the board intends to pursue legal procedures to enforce the merger agreement, stressing that "the Twitter board is committed to closing the transaction at the price and terms agreed with Mr. Musk." Twitter shares fell 6% to $34.58, and the contract stipulates that Musk will pay Twitter a billion dollars if he cannot complete the deal for reasons such as financing the acquisition or blocking the deal by regulators, and Musk's decision is likely to lead to a protracted legal conflict between the billionaire and the company. She is 16 years old.