By THOUSIF INC
Twitter CEO Parag Agrawal is trying to assuage employee fears in the wake of Elon Musk launching a hostile $43 billion takeover attempt of the social media company.
At an all-staff meeting on Thursday, Agrawal said Twitter's board is considering Musk's offer and will act in the best interest of company shareholders.
When an employee suggested that Musk's aggressive acquisition bid felt like a hostage situation, Agrawal dismissed the notion.
"I do not believe we are being held hostage," Agrawal shot back.
After the meeting, many were dismayed, saying they felt like they were being left in the dark about what was going on.
Moreover, a Musk-owned Twitter represents, to some, a nightmare scenario, given Musk's long history as a volatile business leader.
"The culture here and this platform deserves to be protected, and I hope the Board does the brave thing and refuses the offer." said one Twitter employee who requested anonymity.
"Our democracy is more important than a payout," this employee said. "I hope the Board agrees."
However, this Twitter worker added: "It does feel like there is not much we can do as employees," this person said.
Musk revealed his interest in purchasing Twitter earlier by tweeting.
The Securities and Exchange Commission filed stating the acquisition depended on the "completion of anticipated financing."
That was unusual, analysts noted, because an investor eyeing a takeover typically discloses financing and a bid.
"I am not sure that I will be able to acquire it," Musk said at the TED2022 conference in Vancouver, British Columbia.
Which was his first appearance since making his Twitter purchase public.
When asked if there was a "Plan B" if his takeover failed, he said "there is," but he refused to provide further detail.