In an uncommon transfer for what’s been an uncommon takeover bid by the world’s richest man for Twitter, Tesla CEO Elon Musk will deal with the social platform’s staff Thursday, regardless that his $44 billion supply has not but been accomplished.
Twitter CEO Parag Agrawal introduced an all-hands assembly to staff in an e mail on Monday, saying they’d be capable to submit questions upfront, based on The Wall Avenue Journal.
The assembly is a “clear step in the best path in direction of the probabilities of a deal occurring and a sensible strategic transfer as Twitter staff have been left at midnight over the previous few months and have many questions throughout this risky interval of uncertainty,” mentioned Wedbush analyst Daniel Ives.
Musk reached a deal to amass Twitter in April, however he has clashed with the corporate repeatedly since then over the variety of bots, or pretend accounts, that exist on the social media platform.
Musk mentioned he was placing the deal on maintain on Could 13, though it appears unlikely that he can do this on his personal.
Musk mentioned he wanted extra knowledge from the corporate about these bot accounts, regardless of the very fact hat Twitter has reported its bot estimates — and its admission that they might be too low — to traders for years.
Twitter staff may produce other causes to be nervous about Musk’s impending takeover.
The irascible billionaire has levied a barrage of criticism on the firm, from its moderation and security insurance policies, which he phrases a risk to “free speech,” to its nameless person accounts, which he wish to remove, to its ban of former President Donald Trump, which he has pledged to reverse.
Harry Kraemer, a former CEO Baxter Worldwide and professor at Northwestern College’s Kellogg College of Administration, identified that the deal is “not a assure till it’s completed” and there are nonetheless loads of steps left within the course of earlier than the acquisition might be accomplished.
“In my expertise it is vitally uncommon and virtually weird for somebody who has not bought the corporate to talk to present staff of the corporate he’s trying to buy,” Kraemer mentioned.
If historical past is any information, Musk may contemplate shifting the corporate to Texas, as he did with Tesla’s headquarters in December 2021.
An unabashed crypto devotee, he has floated concepts about accepting the cryptocurrency dogecoin as cost for premium accounts.
Musk additionally as soon as had Tesla buy $1.5 billion in bitcoin and for a quick interval allowed consumers to pay for his or her automobiles utilizing cryptocurrency.
He’s additionally focused Twitter’s work-from residence coverage, having as soon as known as for the corporate’s headquarters to be become a “homeless shelter” as a result of, he mentioned, so few staff really labored there.
The remark additionally served as a thinly veiled jab at San Francisco, which has a big homeless inhabitants.
It’s not clear if this week’s assembly signifies that the 2 sides have come nearer collectively on resolving their points.
Shares of Twitter have been buying and selling effectively under the $54.20 per share that Musk has agreed to pay amid Wall Avenue doubts that the deal will probably be consummated.