Billionaire entrepreneur Elon Musk has terminated his $44 billion deal to acquire Twitter, claiming that the social media giant failed to comply with its obligations in the merger agreement.
In response, Twitter said it is committed to closing the transaction on the price and terms agreed upon with Musk and plan to pursue legal action to enforce the merger agreement. It is confident it will prevail in the Delaware Court of Chancery.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.