Elon Musk Twitter deal: Employees asked to refrain from posting

NEW DELHI: Amid the high-volt­age dra­ma that’s been unfold­ing since Elon Musk offi­cial­ly attempt­ed to pull out of his $44 bil­lion deal to buy Twit­ter, the microblog­ging site’s gen­er­al coun­sel has told employ­ees they should Do not com­ment pub­licly on the deal. In an inter­nal memo to Twit­ter employ­ees sent Fri­day and obtained by The Verge, the com­pa­ny’s gen­er­al coun­sel Sean Edgett urged employ­ees “not to tweet, slack off, or share com­ments about the merg­er” and that Man­age­ment would do “very lim­it­ed what we can share”. 

“I know this is an uncer­tain time and we appre­ci­ate your patience and con­tin­ued com­mit­ment to the impor­tant work we have under­way,” Edgett wrote. (ALSO READ: Bank Hol­i­day on July 9th? Banks will be closed for 12 days: check­list here) 

Accord­ing to the web­site, the notice notes that the merg­er is an ongo­ing legal mat­ter. (ALSO READ: Man Sold $1 Bil­lion in Fake Cis­co Devices, Led 19 Com­pa­nies to List Them Online) 

“The Twit­ter Board is com­mit­ted to com­plet­ing the trans­ac­tion at the price and terms agreed with Musk and plans to take legal action to enforce the merg­er agree­ment. We are con­fi­dent that we will pre­vail in the Delaware Court of Chancery,” Edgett said.

In a sur­prise move, Musk’s legal team said in a US Secu­ri­ties and Exchange (SEC) fil­ing that he was exit­ing the deal because Twit­ter “mate­ri­al­ly” vio­lat­ed their agree­ment and made “false and mis­lead­ing” state­ments dur­ing the negotiations. 

Mean­while, Twit­ter said in response that it will sue Musk for end­ing the $44 bil­lion takeover deal. 

In the fol­low­ing tweet, Twit­ter Chair­man Bret Tay­lor said that the “board is com­mit­ted to com­plet­ing the trans­ac­tion at the price and terms agreed with Musk and plans to take legal action to enforce the merg­er agreement.” 

“We are con­fi­dent that we will pre­vail in the Delaware Court of Chancery,” he added.

Musk had shelved the deal due to the actu­al num­ber of spam/fake accounts and bots on the plat­form and request­ed a response from Twit­ter CEO Parag Agraw­al. On Thurs­day, Twit­ter claimed it was ban­ning more than 1 mil­lion spam accounts every day.