Elon Musk, as we reported yesterday, has made an offer to buy all of Twitter. Now, The Verge is reporting that the social media giant's CEO, Parag Agrawal, has told Twitter employees that the company is still evaluating Musk's $43 billion offer.
See more: Elon Musk offers to buy Twitter for $43 billion
Twitter CEO tells employees it's unclear whether Musk's offer will be accepted
Twitter CEO Parag Agrawalheld a meeting with employees and a 25-minute Q&A about recent developments and Elon Musk's offer to buy the company. He reportedly said the situation would be handled privately, according to a person present at the meeting.
Agrawal did not say when the board would have a response to Musk's offer and did not give employees many details about the situation. He did say that there would be a "rigorous process" the board would follow and that the decision they reached would be in the best interest of Twitter shareholders
Parag Agrawal took over as Twitter CEO last November after Jack Dorsey left the company. Apparently, during the meeting he had, there were concerns from employees about the possibility of future layoffs if Musk were to buy Twitter.
See also: Elon Musk: Will Twitter's offices become a homeless shelter?
Another question from an employee was what would happen to employee stock options if Twitter went private, but Agrawal said it was too early to speculate on the matter.
Before that meeting, Elon Musk said it was unlikely the board would act against the deal he proposed. Musk had previously said the deal wasn't about the money but rather the fact that it aimed to make Twitter a platform that would protect free speech.
The thing is, it seems like the offer was somewhat unsolicited, and Twitter's board may try to restrict Musk from making an acquisition of the company.
On the other hand, the billionaire earlier stated that he had a Plan B if Twitter decided to reject his offer.
He reportedly told Twitter's board that he would not make any more offers and that this would be his last. He also stressed that if the offer is rejected, he would reconsider his investment in the social media.
See also: Twitter: Elon Musk will not be a member of the board of directors
Musk also stated that in its current form, the company cannot thrive or serve the social imperative and that it should be converted into a private company.
Information source: phonearena.com
