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Twitter Deal: Proceeding of deal is not on hold, says Twitter to employees

Twitter Deal

San Francisco: Twitter executives told employees on Thursday that the $44 billion deal to sell the company to billionaire Elon Musk is moving forward as planned, as per a report in international media.

According to Bloomberg news, Twitter's top lawyer and head of policy Vijaya Gadde also told them that it would not renegotiate the agreed-upon price of $54.20 per share. Gadde told workers at an all-hands meeting that there is “no such thing as a deal being on hold,” Bloomberg quoted people who attended the meeting.

The report said that she was pushing back on claims from Musk over the past week that he is pausing the deal while he learns more about the number of bots and spam accounts on the social-media service. Other top Twitter executives, including Chief Executive Officer Parag Agrawal and finance chief Ned Segal, also addressed employees, the Bloomberg report said.

The companywide video call was intended for leadership to discuss the deal and provide more details following Twitter's filing of its proxy statement with the Securities and Exchange Commission, which outlined the transaction's history and terms.

Segal on Thursday told employees discussing internal business, that Twitter executives are still engaging with Musk and his team, and working with them “regularly” throughout the process. (UNI)