The richest man in the world Ilon Mask, abandons the intention to buy Twitter for 44 billion dollars, which he announced a few months ago, writes "Washington Post".

The billionaire filed a report with the US Securities and Exchange Commission on Friday. Musk's lawyers sent a letter to Twitter saying he was "terminating the merger agreement," according to the filing.

Musk claims he has the right to back out of the deal because Twitter didn't provide him with enough information about the company's financial situation.

But legal experts say Musk can't just walk away from the deal. In April, he committed to continue the process of buying the shares, indicating "unless there is a major change in the business". Legal experts say nothing has happened to meet that threshold.

Musk has previously threatened to cancel the deal if Twitter doesn't give him more data to do its own analysis of how many spambots it has, while Twitter has refused to reveal its users' personal information like their names, emails and IP addresses. which the network uses to come up with its own estimates about the number of bots (fake accounts).

Musk and Twitter have not yet responded and are not commenting on the new information.

It's unclear what will happen next, though experts say a major legal battle is likely to occur if Musk seriously tries to back out of the deal. In a statement last month, Musk stated:

"We intend to close the transaction and execute the merger agreement at the agreed upon price and terms."

Even if Twitter accepts his argument, Musk will likely have to pay a termination penalty that could be as much as $XNUMX billion.