Elon Musk decides to terminate Twitter deal

Tesla CEO Elon Musk decided on Friday to terminate his $44 billion deal to buy Twitter, blaming the company for withholding information on its number of spam and fake accounts.

Musk's lawyer claimed Twitter failed to comply with its obligations in the merger agreement and was "in material breach of multiple provisions" of the agreement signed in April.

Twitter's Board Chair Bret Taylor said the company is committed to closing the deal on the price and terms agreed upon with Musk, and plans to pursue legal action to enforce the agreement.