Elon Musk’s Twitter deal is continuing, not ‘on maintain,’ executives inform workers

Twitter Inc. executives advised staff on Thursday that the $44 billion deal to promote the corporate to billionaire Elon Musk is transferring ahead as deliberate, and that it received’t renegotiate the agreed-upon value of $54.20 per share. 

Vijaya Gadde, Twitter’s prime lawyer and head of coverage, additionally advised employees at an all-hands assembly that there’s “no such factor as a deal being on maintain,” based on individuals who attended the assembly. She was pushing again on claims from Musk over the previous week that he’s pausing the deal whereas he learns extra concerning the variety of bots and spam accounts on the social-media service.

Different prime Twitter executives, together with Chief Govt Officer Parag Agrawal and finance chief Ned Segal, additionally addressed staff, stated the folks, who requested to not be recognized discussing inside enterprise.

The companywide video name was meant for management to debate the deal and supply extra particulars following Twitter’s submitting of its proxy assertion with the Securities and Trade Fee, which outlined the transaction’s historical past and phrases.

Segal on Thursday advised staff that Twitter executives are nonetheless participating with Musk and his group, and dealing with them “commonly” all through the method. 

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