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Business deals

Twitter vows legal fight after Musk pulls out of $44bn deal

Tesla CEO says social media company failed to supply data on fake accounts

Shares of Twitter fell 6% in extended trading on July 8.   © Reuters

(Reuters) -- Elon Musk, the chief executive officer of Tesla and the world's richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement.

Twitter's chairman, Bret Taylor, said on the micro-blogging platform that the board planned to pursue legal action to enforce the merger agreement. 

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