Twitter shares sank sharply in early premarket trade after Elon Musk said he is trying to terminate his $44 billion takeover of the company.
Shares of the company fell nearly 9% in U.S. premarkets before paring some losses to trade around 7% lower.
On Friday, Musk's attorney notified Twitter's board that he wants to cancel the deal. The billionaire has taken issue with bots and fake accounts on the platform. Twitter, on the other hand, says it has given Musk the information he needs to assess its claim that spam accounts make up only 5% of monetizable daily active users.erminate his $44 billion takeoverShares of the company fell nearly 9% in U.S. premarkets before paring some losses to trade around 7% lower.On Friday, Musk's attorney notified Twitter's board that he wants to cancel the deal.
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