Twitter CEO addresses employees worried about Elon Musk's hostile takeover bid


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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, according to two employees in attendance.

When an employee suggested that Musk's aggressive acquisition bid felt like a hostage situation, Agrawal dismissed the notion.

"I don't believe we are being held hostage," Agrawal shot back, according to the employees.

After the meeting, many were dismayed, saying they feel like they were being left in the dark about what was really going on and that a Musk-owned Twitter represents, to some, a nightmare scenario, given Musk's long history as a volatile business leader.

Musk revealed his interest in purchasing Twitter earlier in the day by tweeting a filing to the Securities and Exchange Commission stating the acquisition depended on the "completion of anticipated financing."

"I'm not sure that I will actually 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.

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When asked if there was a "Plan B," if his takeover failed, he said "there is," but he refused to provide further detail.

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