Still on the table?
Posted on 04/15/2022 6:53:10 AM PDT by shadowlands1960
Twitter CEO Parag Agrawal told employees Thursday that the company was still evaluating a $43 billion offer by Elon Musk to buy the company and take it private, setting the stage for a potentially drawn-out feud with the world’s richest person.
After clips of the songs “I Say A Little Prayer” and “I Want It That Way” by the Backstreet Boys played, Agrawal launched into a 25-minute Q&A session with employees Thursday, according to a person in attendance. He didn’t say when the board would have an answer to Musk’s offer or which way it was leaning, frustrating some who expected a more detailed explanation. The board would follow a “rigorous process” and make a decision “in the best interest of our shareholders,” he said.
Agrawal, who took over as CEO of Twitter last November for Jack Dorsey, fielded concerns from employees about the future of the social network if Musk were to take it over. At least one employee asked about the possibility of future layoffs, which Agrawal said wouldn’t be dictated by individual performance ratings. In response to another question about what would happen to employee stock options if Twitter was taken private, he said it was too early to speculate. The emergency call was held during a “focus week” for Twitter employees, in which they had Monday off and were encouraged to be heads-down on projects and take few meetings.
(Excerpt) Read more at theverge.com ...
Some theater so he can pretend he is doing his fiduciary duty.
The censorship will continue...bottom line.
Speaking truth to leftist power is still banned.
If effect, Twitter is government owned now.
So, no sale.
If they refuse Musk, they will be subject to huge lawsuits from existing shareholders that can bankrupt the company, the CEO and the Board. Also if Musk follows through with his threat to sell his shares, the stock price will drop suddenly. It is possible that the GameStop brigades may step in, buy enough stock to give Musk a proxy win. Either way Twitter is in for some interesting times. The Left, in order to preserve their stranglehold on free speech, will do everything they can to stop Musk.
Didn’t ‘vanguard funds management’(IIRC) somehow manage to obtain a higher percentage of shares than Musk has? And the branDUHn admin has started some sort of witch hunt on Musk now as well? He must be over target.
So, it’s not really a business. It’s about controlling speech, stopping the voices from calling out the left, controlling the narritive.
The funny thing is that the liberals DO NOT recognize who is supporting Twitter staying the way it is. Saudi’s (who they hate and even support the Iranians), Blackrock (who is making housing un-affordable for most Americans) and Vanguard (investment group whose goal isn’t earnings but control now). That’s a ‘basket of deplorables’ if I have ever seen one, gathered together for nefarious purposes, to allow propaganda to continue un-fettered. Supported by Federal Government in the background. I mean, these kind of conjunctions remind me of 1930’s Germany............
Not an outright no
So I haven’t gone finestien yet.
This is perhaps different-
If the work of Twitter is mostly creative “Art” rather than hard “Science”, if the folks that do the work don’t want to work for Musk, they quit, and the company collapses.
On the other hand, if it’s mostly on auto-pilot now that the big technical hurdles have been overcome, if all the Geeks leave, one could hire general duty techs to keep it running.
Will be really interesting to see if these Geeks are any good, or are they over paid tech-mules just good because they work at Twitter.
Musk and that early gang were the exceptions.
The new crop? not so much.
It’s close.. Musk owns just under 10%, Vanguard owns just over 10%. We of course have no idea what purchases and aliances are happening behind the scenes until the SEC disclosures are published..
Gee, I wonder if some odd violation will be found with Musk’s acquisitions.
What difference does that make? Elon made an offer for all outstanding shares.
What difference does that make? Elon made an offer for all outstanding shares.
Buying time, trying to come up with a palatable excuse to reject the offer.
May twitters reign of censorship come to a screeching halt with a buyout!
Yeah, and we know what that idiot’s fate was.
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