Elon Musk is terminating his $44 billion deal to buy Twitter citing multiple breaches of the purchase agreement, according to a letter sent by the billionaire Tesla chief's team  to Twitter. “As further described below, Mr Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement,” the letter said. 

In April, Musk reached an acquisition agreement with Twitter at $54.20 per share. However, Musk put the deal on hold in May to allow his team to review the veracity of Twitter’s claim that less than 5 per cent of accounts on the platform are bots or spam.