Twitter CEO still expects Elon Musk to complete the acquisition despite delays.


Will Elon Musk Bail For Twitter Acquisition? The company’s current CEO doesn’t seem to think so.

Hours after Musk’s abrupt decision to stop the takeover offer, Twitter chief Parag Agrawal posted a thread addressing the issues the company was facing.

“We expect a deal to happen, but we have to be prepared for every scenario and always do the right thing on Twitter,” Agrawal wrote. “I have a responsibility to lead and run Twitter, and our mission is to build a stronger Twitter every day.”

Agrawal issued a statement this week explaining why it had laid off two company executives and implemented an employment freeze. “Some people ask why the ‘Lame Duck’ CEO makes these changes if we’re going to be acquired anyway,” he wrote. But Agrawal responded, “Nobody on Twitter works to turn the lights on.”

“We take pride in our work. Regardless of the future ownership of the company, we are improving Twitter as a product and business for all of our customers, partners, shareholders and you.”

Also, the difficult economic situation facing the United States has put Agrawal into action. “People also ask questions. Why do we manage costs now and after closing? Our industry is in a very difficult macro environment right now,” he said. It won’t be, and no leader on Twitter will.”

Musk has decided to temporarily halt takeover bids due to obvious concerns that Twitter may miscalculate rates of spam and fake accounts on the platform. “Twitter transactions are temporarily put on hold until we have details to support our calculations that spam/fake accounts actually make up less than 5% of users,” he said. Twitter(Opens in a new window) on a Friday morning.

He added in a follow-up tweet that he was “still committed to the acquisition.”

Nevertheless, the temporary hold leaves many wondering if he plans to reverse the deal. Musk originally planned to use $21 billion in Tesla stock to finance the acquisition. Another $12.5 billion was due to come in through a margin loan using Musk’s investment as collateral. But since then, Tesla’s stock has fallen from $1,028 to $769.

When the acquisition is complete, you can expect Musk to replace Agrawal with someone else. Musk has already hired a new executive to lead Twitter as CEO, according to Reuters. Meanwhile, Agrawal is signaling that he plans to talk more publicly about his efforts to improve Twitter.

“So what can you expect of me in the future? I’m still focused on my work and that includes making difficult decisions as needed,” he wrote later on Friday. adding(Opens in a new window): “I will try to bring more transparency to what we do.”

“You can’t see my tweets for ‘topic of the day’ or the loudest,” Agrawal said. “You can rather see the ongoing and challenging work our team is working on on Twitter to improve public conversations.” said this.

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