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    Twitter Deal Is Temporarily On Hold: Details Here

    By Varushi Yadav | 
    Updated: 15th May 2022 23:06 IST

    Table Of Contents

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      Twitter Shares Fell Around 20 per cent In Pre-Market Trading On Friday

    Highlights of the Story

    • Twitter deal is temporarily on hold.
    • The CEO noted that it is their job to build a stronger Twitter every day.
    • Twitter shares tumbled around 20 percent in pre-market trading Friday

    Twitter CEO Parag Agrawal stated on Saturday that the deal with Elon Musk is expecting to complete, but that this should not be used as 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 it. This is a significant update, as Elon Musk previously stated that the microblogging site’s $44 billion (roughly Rs. 3,40,800 crore) takeover bid is on hold.

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    Some have questioned why a  CEO would make these changes if Twitter is being acquiring anyway, according to Agrawal. In response to these remarks, the CEO stated that, while he expects the deal to close, Twitter must be preparing for any scenario and always do what is best for the company.

    “We announced changes to our management team and processes yesterday.” Changes affecting people are always difficult,” the CEO tweeted, adding, “I would not use the deal as a justification to avoid making choices for the company’s health, and neither will any other leader at Twitter.”

    He stated that he is responsible for the direction and operation of Twitter. The CEO also stated that it is their responsibility to make Twitter stronger every day. Agrawal went on to say that regardless of who owns the company in the future, Twitter will improve as a product and company for customers, partners, shareholders, and all users.

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    Twitter Shares Fell Around 20 per cent In Pre-Market Trading On Friday


    “Nobody at Twitter works solely to keep the lights on. We are proud of our work “In a tweet, the CEO stated. He stated that he is still focused on doing his job, which includes making difficult decisions when necessary. “I will continue to embrace the intricacies of our service and business. And more positive change is on the way “The CEO continued.

    “I will also make an effort to increase the transparency of our work. You won’t see me tweet about the ‘topic of the day’ or the loudest sound bite, but rather about the ongoing, continuous, and difficult work our teams are doing to improve the public conversation on Twitter “He went on.

    He also expressed his appreciation to the entire Twitter team. “They have remained focused and strong, as well as sharp and agile. They’ve been doing the work as they’ve always done “He wrote this while praising the Twitter team.

    Twitter recently agreed to a $44 billion acquisition by Tesla CEO Elon Musk, though shareholder approval is still requiring. Elon Musk, on the other hand, declared that the microblogging site’s $44 billion takeover bid is on hold.

    Following Musk’s announcement about the hold on the Twitter deal, Twitter shares fell around 20 per cent in pre-market trading on Friday. Earlier this week, Musk stated that Twitter’s decision to ban former US President Donald Trump was a mistake, and that if his acquisition of the social media company is successful, he will reverse it.

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