Elon Musk Makes Proposal To Buy Twitter

Twitter CEO Parag Agrawal

Twitter CEO Parag Agrawal is trying to voice employees’ concerns after Elon Musk announced a $43 billion hostile takeover bid for the social media company.

At a meeting of all employees on Thursday, Agrawal said Twitter’s board was considering Musk’s proposal and would act in the best interest of the company’s shareholders, according to two employees present.

When an employee suggested that Musk’s aggressive takeover attempt looked like hostage-taking, Agrawal dismissed the idea.

“I don’t think we are being held hostage,” the staff said.
On Twitter, things were a little different. Several employees have been shocked by the news over the past 10 days that Mr. Musk wants to buy out the company and remake it in his own image.

Elon Musk offered to buy Twitter

To allay employee concerns, Twitter management called an emergency general meeting at 2:00 pm. Thursday. It was led by Parag Agrawal, the company’s CEO, according to five employees who attended and were not allowed to speak in public.

Among the most burning questions: Was this takeover attempt real? And if so, will Mr. Musk fix the service that many Twitter employees have been thinking about for years, tweaking and polishing it with painstaking care?

Everything will work as it should

Two people said Mr. Agrawal tried to show a firm face when troops were mobilized, telling staff that he thought “everything will work as it should.”

Some employees complained that G. Agrawal was no better equipped than Mr. Musk quietly began buying up a large number of shares in the company, according to two people. Mister. Agrawal said that the board spoke to Mr. On several occasions, Musk and the board members felt they were in agreement on key issues.

Other staffers suggested that Mr. Agrawal should tweet more to counter Musk’s aggressive tweets. Others have wondered how the acquisition will affect stock compensation and the company’s culture, which is notoriously inclusive given stories of racism at Tesla’s facilities.

The staff also asked if Twitter was considering options, such as a takeover by another company or a poison pill to keep Mr. Musk out.

Mr. Agrawal said that while he understands the situation is frustrating, he is not legally allowed to go into detail about what is happening. He said the board would conduct a thorough review of Mr. Musk’s betting and make decisions in the best interest of Twitter’s shareholders.

But he urged employees to ignore the initial chaos surrounding the company and focus on the work ahead, even if it means holding back Mr. Wilson. Mask actions.

“It gives all of us a chance to get distracted, to feel out of control,” Agrawal told staff. “Personally, I’m going to spend my time on things that I can control, and I think that’s going to be important.”

Another employee expressed disappointment that Mr. Musk, a potential future owner of the company, kept Twitter in the corner, which frightened many employees familiar with the history of the billionaire’s strange behavior. One staff member likened it to a “hostage case”.

Mister. Agrawal attempted to express concern, although some felt that the meeting lacked substance after it ended around 2:35 pm.

“I don’t think we are being held, hostage. Agrawal told the staff.

Musk Wrote. “I will unlock it”

After the meeting, many were shocked, saying they were left in the dark about what was really going on and that Musk-owned Twitter is a nightmare scenario for some, given Musk’s long history as a fickle business leader.

“The culture here and this platform deserve protection, and I hope the board will take the courageous step of rejecting the offer,” said a Twitter employee who asked not to be named. This employee said, “Our democracy is more important than compensation.” I hope the council agrees.
Musk said that if his takeover bid is not accepted, he “will need to reconsider his position as a shareholder,” according to a letter sent to the head of Twitter.

“Twitter has extraordinary potential,” Musk wrote. “I’ll open”.

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