Elon Musk is ‘terminating’ the Twitter deal

The deal between Elon Musk and social media giant Twitter is off – if Musk gets his way.

In a letter to Twitter's legal department (opens in new tab) late Friday, Musk sought to terminate the merger agreement between him and his financial backers and Twitter stating, “because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement).”