Twitter CEO addresses employees worried about Elon Musk’s hostile takeover bid
Twitter CEO Parag Agrawal is trying to assuage employee fears in the wake of Elon Musk launching a hostile $43 billion takeover attempt of the social media company.
At an all-staff meeting on Thursday, Agrawal said Twitter’s board is considering Musk’s offer and will act in the best interest of company shareholders, according to two employees in attendance.
When an employee suggested that Musk’s aggressive acquisition bid felt like a hostage situation, Agrawal dismissed the notion.
“I don’t believe we are being held hostage,” Agrawal shot back, according to the employees.
After the meeting, many were dismayed, saying they feel like they were being left in the dark about what was really going on and that a Musk-owned Twitter represents, to some, a nightmare scenario, given Musk’s long history as a volatile business leader.
“The culture here and this platform deserves to be protected, and I hope the Board does the brave thing and refuses the offer,” said one Twitter employee who requested anonymity. “Our democracy is more important than a payout,” this employee said. “I hope the Board agrees.”
But this Twitter worker added: “It does feel like there isn’t much we can do as employees,” this person said.
Musk revealed his interest in purchasing Twitter earlier in the day by tweeting a filing to the Securities and Exchange Commission stating the acquisition depended on the “completion of anticipated financing.”
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