Twitter shares slump 7% in premarket trade after Elon Musk terminates bid

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Elon Musk is backing out of his agreement to buy Twitter Inc., and Twitter’s chairman has already promised a legal fight.

In a letter sent to Twitter’s TWTR chief legal officer on Friday, the Tesla Inc. TSLA and SpaceX chief executive claimed that he was ending the agreement because Twitter would not share requested information with him, and the information that was shared, he contended, had confirmed his belief that there were more bots on the service than Twitter claims in its securities filings.

“Mr. Musk…

This article was originally published by Marketwatch.com. Read the original article here.

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