Elon Musk's intention to buy Twitter for $54.20 a share (or $44 billion) again to avoid a messy trial has hit the morale of employees at Parag Agrawal-led platform, as they aren't feeling great about what is actually coming at them after months of drama.
Reports on Wednesday mentioned that Twitter workers' morale is at an all-time low as they have little idea what will become of a company that internally protested against the takeover. Twitter CEO Agrawal sent an internal email to employees after Musk intended to buy it again.
"We received the letter from the Musk parties which they have filed with the SEC. Our intention is to close the transaction at $54.20 per share," according to the email seen by Platformer's Zoe Schiffer.
"I will continue to keep you posted on significant updates, but in the meantime, thank you for your patience as we work through this on the legal side," the email read. As usual, the latest twist in the Musk saga landed hardest on Twitter's employees. Many of them were 45 minutes into a three-hour 2023 planning session, I'm told, when news of Musk's latest antics hit the timeline. Meeting adjourned, I guess! In the company's internal Slack channel, employees were suspicious of Musk's letter.
"I don't understand why Elon would need to propose the deal again. The original one still stands. Just write the check, bro," they said, according to Platformer. Another employee wrote that they "generally have a low opinion of Musk". "Now time to exit the theme park and let the new owner raze it to the ground", wrote another.
Twitter has seen more than 700 employees quitting in recent months. Musk and his legal team have realised that the October 17 trial is going to get dirtier, with embarrassing text messages and internal emails being leaked in the public domain as the case progresses. There is still a long way to go for Musk to finally close the deal. Twitter had filed a lawsuit in the Delaware Court of Chancery "to hold Musk accountable to his contractual obligations".
A new treasure trove of texts exchanged between Musk and Agrawal was recently leaked in the public domain. In an early April conversation with the Twitter CEO, Musk admitted he does not want to be a boss.
"Treat me like an engineer instead of a CEO," Agrawal replied. Agrawal told Musk that he is free to tweet "is Twitter dying?" or anything else about Twitter "but it's my responsibility to tell you that it's not helping me make Twitter better in the current context".