The $44 billion deal fell through! Tesla CEO Musk officially announced the termination of the acquisition of Twitter

Thanks to CTOnews.com netizen kayd, Guangdong, Hong Kong and Macao Dawan District clue delivery! Update: Musk officially notifies Twitter to abandon purchase, Twitter responds "This is invalid and wrong" and insists on completing the transaction

CTOnews.com August 30 news, according to Bloomberg August 30 news, Tesla CEO Elon Musk sent a letter to Twitter to terminate the acquisition, formally notifying the termination of the agreement. Musk reportedly sent an additional notice terminating the merger agreement with Twitter. The letter highlighted other grounds for terminating the agreement, documents show. Twitter stocks are down 2.5% in pre-market trading.

According to Bloomberg, filings with the Securities and Exchange Commission show that Elon Musk has sent a letter to Twitter saying that the allegations of a recent whistleblower are new reasons to terminate the $44 billion acquisition of social media platforms.

Twitter's former head of security, Peiter Zatko, recently filed a whistleblower letter with the SEC, FTC and DOJ, accusing Twitter of "extremely alarming flaws" in privacy, security and content censorship. In the whistleblower letter, Peiter Zatko described Twitter as a chaotic and directionless company, beset by infighting and unable to properly secure the data of its 238 million daily users.

CTOnews.com has learned that Musk initially offered to buy Twitter for $44 billion. But after the initial acquisition deal was struck, Musk backtracked and announced that he would abandon the acquisition, citing Twitter lying to him about the number of fake accounts and bot accounts on the platform.