September 28, 2022

La Ronge Northerner

Complete Canadian News World

Mr. Musk was supposed to meet with Twitter employees after joining the company’s board in April, but plans changed when he pivoted to trying to buy the company instead.

Elon Musk Fields Questions From Twitter Staff: Live Updates

Elon Musk, the potential owner of Twitter, answered questions Thursday from “newbies,” as Twitter employees are known, emphasizing “freedom of speech, freedom of access” in a discussion that appeared to be speaking on his phone and often voice issues.

the master. Musk attended a virtual all hands meeting as his $44 billion takeover of the company, announced in April, continued to move forward — despite Mr. Musk’s hand surrounds her bot accounts On the site, which many analysts interpreted as an attempt to exit the deal or lower its price.

The meeting was a long time coming. the master. Musk was supposed to take questions from employees after Twitter appointed him to its board in April, but that appearance was scrapped after he changed his mind and tried to buy the company instead. His first question was whether to hold another event, given that Thursday’s 45-minute meeting likely wasn’t enough time to answer all the many questions gathered over the past few days. He agreed to appear again.

He said WeChat, the Chinese social media and payments app, could be a potential vision for Twitter, and said he values ​​people “who make a living on Twitter.”

Conducting a Q and A. session after announcing a deal to buy a company is a standard part of the rules for mergers and acquisitions, but the Twitter deal was not typical. The decline in technology stocks, including those of Tesla, Musk’s main source of wealth, coincided with what appeared to be some reluctance about Mr. Musk’s part, and his erratic opening of deal-related tweets, prompted advisors, investors and employees to scramble.

See also  Kohl's, Franchise Group Enters Exclusive Negotiations for Sale

this month, mr. musk The company accused He stalled his efforts to get more information about how he calculated the number of fake or spam accounts, which he said might give him the right to drop the deal. Days later, Twitter agreed to give mr. Musk’s access to his “fire hose”, Millions of tweets streamed. Despite the crowd’s back-and-forth movement, advisors are continuing to work toward completing the deal, which is expected to expire by October. 24, assuming it has been approved by regulators by then.

Some investors doubt whether Mr. Musk will take the deal to the finish line, with Twitter continuing to trade much less than Mr. Musk’s acquisition price is $54.20. If he tries to pull out of the deal, there is a $1 billion breakup fee, as well as a clause giving Twitter the right to sue him for shutdown, if its funding is sound. Twitter lawyers, ready to take on mr. Musk to court if necessary, be sure to take notes during Thursday Q. and A.