New Delhi: After Twitter agreed to accept a $44 billion takeover bid from Elon Musk, Chief Executive Parag Agrawal Monday told employees that the future of the social media firm is uncertain after the deal was taken private under Tesla’s chief closes.
Elon Musk has finally bought a 100 percent stake in Twitter for approx $44 billion, around $54.20 per share, and all of it in cash. The microblogging site has been evaluating Musk’s offer for the past several weeks. Musk previously said that Twitter has “extraordinary potential” and he wants to unlock it all.
Earlier this month, Musk purchased a 9.2 percent stake in Twitter. This made him the second-biggest shareholder in the company, the first one being Vanguard with a 10.3 percent stake in the company. Later, Twitter CEO Parag Agrawal welcomed Musk to be a part of the board but the billionaire rejected the offer. The tussle between Elon and Twitter has been going on since then.
In case Musk decides to fire Parag Agrawal, the billionaire will need to pay him around $42 million.