© Reuters. Musk Will Tell Twitter (TWTR) Employees He Still Wants the Deal to Happen – WSJ
By Senad Karaahmetovic
Tesla (NASDAQ:) CEO Elon Musk will reportedly inform Twitter (NYSE:) workers at present that he’s dedicated to taking the social media firm non-public.
The Wall Street Journal stories that Musk will make clear his latest remarks on distant work, in addition to focus on his Twitter technique. Musk will reply workers’ questions for about an hour, the report famous.
The billionaire will reportedly inform employees that his feedback about distant work have been primarily centered on sure executives. Accordingly, many engineers on the corporations that he runs are already working remotely.
On the technique, Musk sees Twitter producing revenues from a number of streams, together with promoting and subscriptions.
Wedbush analyst Daniel Ives says at present’s assembly is “another clear step in the right direction towards the chances of a deal happening and a smart strategic move.”
The analyst expects the inquiries to middle across the deal timing, his dedication, headquarters probably transferring from San Francisco to Austin, layoffs, technique adjustments, in addition to his need to personal the social media firm within the first place.
Ives additionally mirrored on the deal itself.
“We believe $54.20/$44 billion is essentially out the window at this point and is reflected in Twitter’s current stock price/deal spread as the Street views a clear renegotiation of the current deal likely in the cards on the fake account issue. That said, there is still a good chance Musk tries to walk away from the deal and pay the $1 billion breakup fee, although this will likely end up in a long, brutal court battle,” he informed shoppers in a observe.
Twitter shares are up over 2.2% in pre-open Thursday.
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