Twitter executives informed employees on Thursday that the company’s $44 billion deal to sell the company to Tesla CEO Elon Musk is moving forward as planned.
The executives said they will not renegotiate the agreed-upon price of $54.20 per share. Their remarks come days after Elon Musk paused the deal pending information about an accurate tally of bots and fake accounts on the social media platform.
Speaking at a company-wide meeting, Vijaya Gadde, who serves as Twitter’s top lawyer and head of policy, told workers that there is “no such thing as a deal being on hold,” Bloomberg reported, based on information provided by multiple people who attended the meeting.
Gadde was reportedly pushing back on claims from Musk over the past week that he is pausing the deal to learn more about the presence of bots on the platform.
Other Twitter executives who attended the meeting, including CEO Parag Agrawal and finance chief Ned Segal, also spoke to employees. As detailed by Bloomberg, the company-wide video call was intended for Twitter’s leadership to discuss the deal and provide employees with more details following Twitter's filing of its proxy statement with the Securities and Exchange Commission.
Despite public threats from Musk to pause the deal, Segal on Thursday informed workers that company executives continue to engage with Musk and his team, and have been working with them “regularly,” throughout the acquisition process.
Should the deal be finalized, Elon Musk is expected to assume the mantle of interim CEO.
Musk has expressed his desire to take the company private and impose new moderation policies to increase free speech on the platform and to do away with ideological censorship.
As reported by Rebel News, Musk announced his intent to get rid of permanent bans, and to unban former President Donald Trump who was permanently suspended from the platform following the events of January 6, 2021.