Twitter says it's committed to enforcing Elon Musk's $44 billion buyout deal

Even as Tesla CEO Elon Musk appeared to waffle on the deal, Twitter stated it intends to execute its $44 billion merger agreement with him. "Twitter is committed to completing the deal on the agreed price and parameters as soon as practical," it stated in a Securities and Exchange Commission filing late Tuesday. In a statement to Bloomberg, the board said, "We plan to close the acquisition and enforce the merger agreement."

Musk put a halt to talks on Tuesday, saying the takeover can't go forward unless Twitter CEO Parag Agrawal can show that the platform has fewer than 5% false accounts. "We aren't flawless at catching spam," Agrawal had remarked earlier that day. According to Bloomberg, Musk reportedly stated a day earlier that he may renegotiate the transaction at a lesser price.

In response, Twitter provided its description of how the arrangement with Musk was negotiated over several weeks on Tuesday evening. Before attempting to take Twitter private on April 25, Twitter stated that Musk did not make any evident steps to learn more about the company, particularly the number of spam accounts on its network.