On Friday night, Tesla CEO Elon Musk lastly made it crystal clear that he has no real interest in including “owner of Twitter” to his many titles. The transfer was months within the making.

In a letter to Twitter’s Chief Legal Officer Vijaya Gadde filed with the Securities and Exchange Commission, Musk notified the social media firm that he would terminate the $44 billion acquisition deal he made in late April. However, it isn’t but clear whether or not Musk can unilaterally terminate the settlement.

Musk’s legal professionals argue that the billionaire is backing out of the settlement as a result of “Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect.”

Twitter CEO Parag Agrawal retweeted the corporate’s board chairman Bret Taylor minutes after the information broke in obvious defiance of the Tesla CEO.

“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery,” Taylor wrote. Gizmodo reached out to Twitter on Friday night for touch upon the letter however didn’t obtain a response by the point of publication. We’ll ensure to replace this weblog once we hear again.

The information that Musk is backing out of the acquisition settlement follows months of public purchaser’s regret expressed on Twitter itself. Musk has fixated on the variety of spam accounts proliferating on the social community. On Thursday, the Washington Post reported that the billionaire’s deal to amass Twitter was in “serious jeopardy” and that Musk had stopped participating in funding discussions. The outlet cited doubts from Musk’s staff over the info supplied on the variety of pretend accounts and spam bots supplied to it by Twitter.

In June, amid a flurry of Musk mayhem, Twitter stated it was nonetheless dedicated to closing the deal and hinted that it was unafraid to take authorized motion. When requested concerning the Post’s report early at the moment, Twitter reiterated its June response.

“Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement,” the corporate stated in an e mail to Gizmodo. “We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”

This story is growing.