Elon Musk to address Twitter employees for the first time in a town hall meeting on Thursday
Nickie Louise
Posted On June 14, 2022
It’s becoming apparent that Tesla’s CEO Elon Musk will become the new owner of Twitter. After many weeks of setbacks, the $44 billion takeover deal is now back on track.
In a sign that both Musk and Twitter are making progress in the ongoing talks, Musk is reportedly addressing Twitter employees for the first time in a town hall meeting scheduled for this week Thursday, according to news, first reported by Business Insider.
The source, citing an email from Twitter Chief Executive Parag Agrawal to staff, told Business Insider that Musk will take questions directly from Twitter employees. A Twitter spokesperson also confirmed that Musk would attend the company all-hands meeting this week.
Ever since Musk’s takeover bid was announced two months ago, many Twitter employees have expressed concerns that Musk’s erratic behavior could destabilize the social media company’s business, and hurt it financially.
Last week, Twitter reportedly agreed to comply with Elon Musk’s bot data demands. The decision came just two days after Elon Musk’s lawyers sent a letter to Twitter threatening to terminate the $44 billion deal over the inflated user data.
On April 25, Twitter agreed to sell the company to Elon Musk for $44 billion. Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing the proposed transaction.
The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter. Musk needed to use his Tesla stock to raise $21 billion in equity to fund his takeover of the social media giant.
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing the proposed transaction. The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.
