Twitter deal with Elon Musk will close, but we are ready: Parag Agarwal

Washington: Elon Musk announced that the $44 billion takeover bid of the micro-blogging site is on hold. After this, Twitter CEO Parag Aggarwal has given his response in a sequential manner. Also said that the deal with Elon Musk is expected to close, although this deal does not become an excuse to avoid taking important […]
 


Twitter deal with Elon Musk will close, but we are ready: Parag Agarwal

Washington: Elon Musk announced that the $44 billion takeover bid of the micro-blogging site is on hold. After this, Twitter CEO Parag Aggarwal has given his response in a sequential manner. Also said that the deal with Elon Musk is expected to close, although this deal does not become an excuse to avoid taking important decisions for the betterment of the company. Also said that Twitter needs to be ready for this. Always do what is right for the company in every situation. This is an important update in the deal between Twitter and Elon Musk.

Agarwal said that although some people are asking why a “lame-duck” CEO would make this change if Twitter is being acquired. In response, the CEO said that although he expected the deal to close, Twitter needed to be prepared for all situations and should always do what was right for it. The CEO tweeted, “Yesterday we announced changes to our leadership team and operations. Changes affecting people are always difficult. Neither I nor any Twitter leader will use the deal to avoid making important decisions for the betterment of the company.” He said he was responsible for leading and running Twitter. It is his job to build a strong Twitter every day.

Agarwal continued by saying that Twitter will be improved as a product and business for customers, partners, shareholders and all users, regardless of the company’s future ownership. The CEO wrote in a tweet, “No one on Twitter is just working to keep the lights on. We take pride in our work.” He is still focused on doing his job and it involves taking tough decisions as needed.

The CEO said, “I will continue to embrace the deep complexities of our service and our business. However, you can expect a change for the better. I will also try to bring more transparency in my work. You won’t see me tweet on the ‘topic of the day’ or the loudest sound bite, but rather the ongoing, continuous and challenging work our teams are working on to improve public conversation on Twitter.” He also thanked the entire Twitter team. Praising the team, he wrote, “They stand strong and focused, quick and agile. He is busy with work as usual.”

Twitter recently agreed to be acquired by Tesla CEO Elon Musk in a $44 billion deal, though it’s still subject to shareholder approval. Meanwhile, Elon Musk announced that the $44 billion takeover bid of the micro-blogging site is on hold. Twitter shares fell nearly 20 per cent in pre-market trading on Friday after Musk announced a moratorium on Twitter deals. Musk said earlier this week that Twitter’s intention to ban former US President Donald Trump The decision was a mistake and he would reverse it if his acquisition of the social media company is successful.