Musk-Twitter Deal Expected to Close, Says CEO Parag Agrawal

Twitter CEO Parag Agrawal said on Saturday that the deal with Elon Musk is expected to end, but the deal will not be an excuse to avoid making important decisions for the company’s health, adding that Twitter must be prepared for all scenarios and always do what is right for the.

This is a significant update because Elon Musk previously declared that the $ 44 billion (approximately 3,40,800 crore) takeover bid for the microblogging site is on hold.

Agrawal said that although some have asked why a “lame-duck” CEO would make these changes if Twitter is still acquired. In response to these comments, the CEO said that even though he expects the deal to end, Twitter must be prepared for all scenarios and always do what is right for it.

“We announced changes in our leadership and our business yesterday. Changes that affect people are always difficult,” the CEO tweeted, adding, “I will not use the deal as an excuse to avoid making important decisions for the company’s health, and there will be no leader on Twitter either. “

He said he is responsible for leading and running Twitter. The CEO also noted that it is their job to build a stronger Twitter every day.

Agrawal went on to say that regardless of the company’s future ownership, Twitter will improve as a product and business for customers, partners, shareholders and all users.

“Nobody on Twitter works just to keep the lights on. We are proud of our work,” the CEO wrote in a tweet. He said he is still focused on doing his job, and that includes making difficult decisions as needed.

“I will continue to embrace the deep complexity of our service and our business. And you can expect more change for the better,” the CEO added.

I will also try to create more transparency in the work we do. You will not see tweets from me about “the topic of the day” or the loudest sound, but rather about the ongoing, continuous and challenging work our team is doing to improve it. public conversation on Twitter “, he continued.

He also expressed gratitude to the entire Twitter team. “They have stood strong and focused, sharp and agile. They have done the job, as they always have,” he wrote, praising the team on Twitter.

Twitter recently agreed to acquire Tesla’s CEO Elon Musk in a deal worth $ 44 billion, although it is still subject to shareholder approval. However, Elon Musk declared that the $ 44 billion takeover bid for the microblogging site is on hold.

Twitter shares fell around 20 percent in pre-stock trading on Friday after Musk’s announcement that the Twitter deal had been pending.

Musk said earlier this week that Twitter’s decision to ban former US President Donald Trump was a mistake and that he would reverse it if his acquisition of the social media company was successful.


Leave a Comment