Spl instruction from Twitter to employees after Musk pulls out

CHENNAI: Elon Musk is ready to withdraw his $44 billion deal to buy Twitter, as reported on Friday by multiple sites. Twitter has reacted in an aggressive manner, willing to take Musk and Co. to the Court, suing them for this late-stage back out. Twitter has also issued an internal memo to its employees giving them instructions on what and what not to do pertaining to the issue. The Twitter Board asks them to stay away from the saga, and not to comment or tweet anything on the sale deal.

Musk in his defence has claimed that Twitter was in ‘material breach of their agreement and had made false and misleading statements during the negotiations for the sale were ongoing. He also asserted that the company had not provided the number of fake accounts in the platform.

Chairman of the micro-blogging platform, Bret Taylor tweeted, “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

In an official notice to the employees, the company emphasised that it is an ongoing legal matter and the employees should refrain from tweeting, slacking or sharing any commentary about the merger agreement. The Twitter board wrote, “We will continue to share information when we are able, but please know we are going to be very limited on what we can share in the meantime. I know this is an uncertain time, and we appreciate your patience and ongoing commitment to the important work we have underway.”

Elon Musk put forward the formal offer of $44 billion to buy Twitter more than 2 months back. SpaceX CEO has been proactive on the platform, sharing his opinion on Twitter and what changes are required to make the app successful in the market. He has also sought details about the number of spam accounts hosted on Twitter and also how they plan to monetise the app among the millions of users on the platform.