Published , by Asif Khan
Published , by Asif Khan
Despite rumors and speculation that Elon Musk will walk away from his $44 billion deal to acquire Twitter, the CEO of Tesla will attend an all hands meeting of the social media company this week. Musk intends to address all Twitter employees at the meeting, according to Business Insider.
In an email viewed by Insider, Twitter CEO Parag Agrawal said that a virtual all hands meeting with all employees will take place on Thursday, June 17. Twitter workers will be able to submit questions for Musk to answer starting on Wednesday. Twitter's Chief Marketing Officer Leslie Berland will moderate the call. Musk's antics and incessant tweets about the $44 billion deal to acquire Twitter have been a topic of discussion on the company's Slack over the past few months. Some employees have expressed disappointment and anger over the multi-billionaire's takeover of the social media platform. Others have quit or plan to leave the company in protest if and when the deal is closed. One worker told Insider that they are not put off by Musk, describing the reaction on Twitter to Musk as "Elon derangement syndrome."
Musk has been sending mixed messages about the Twitter deal on the social media platform itself, tweeting that he has put the acquisition on hold pending further disclosure of bot statistics. Just last week, Twitter caved to Musk's demand for more internal data on bots. Only time will tell if Musk is exhibiting buyer's remorse and has cold feet, but it probably would have been wise to bring up these concerns before offering $44 billion to acquire Twitter. Shares of Twitter have suffered with each Musk tweet over the past several months. If the deal closes, Musk intends to acquire the company for $54.20/share which is materially higher than today's $37.03/share closing price.
Keep it locked on Shacknews as we continue to report on this mad billionaire's tweets, actual financial news about Twitter, and whatever other dumb stuff comes up as Musk continues to take Twitter shareholders for a ride. Where it stops, nobody knows. Probably not even Elon Musk.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long Twitter via TWTR shares