Elon Musk tells Twitter he's terminating deal to buy social media giant

Elon Musk has informed Twitter that he's terminating a deal to buy the social media giant.

A law firm representing the Tesla CEO sent a letter to Twitter on Friday, alleging that they appear "to have made false and misleading representations" when Musk agreed to buy the company on April 25 and have "breached" multiple provisions of the initial agreement.

The announcement from Musk comes after a month's long feud over how many spam and fake accounts are on Twitter, and the Tesla CEO requested that Twitter provide details supporting its internal estimate that less than 5% of the platform's accounts are spam or fake.

Twitter CEO Parag Agrawal said an external review to determine the percentage of spam or fake accounts would be difficult to perform because of the "critical need to use both public and private information." The company eventually agreed to hand over a "firehose" of data from over 500 million tweets that are posted every day.