Twitter is working towards ‘closing the transaction course of’ with Elon Musk

If attendees at Twitter’s annual shareholder assembly had been hoping to clear up confusion surrounding Elon Musk’s acquisition of the corporate, they possible left dissatisfied. Regardless of quite a few questions on the long run of Twitter, the corporate’s executives had little to say about Musk, who didn’t attend the assembly.

“We’re working via the transaction course of,” CEO Parag Agrawal stated through the assembly. The standing of the deal has been considerably unclear since Musk introduced it was “on maintain,” as a consequence of his considerations about bots on the platform. Twitter executives have maintained they’re transferring ahead with their plans.

“Whilst we work in direction of closing this transaction, our groups and I stay targeted on the essential work we do each day to serve the general public dialog,” Agrawal stated.

Twitter had stated forward of the assembly that it wouldn’t reply questions associated to Musk’s acquisition of the corporate, which is able to have to be formally authorised by Twitter stockholders at a later date. Even so, shareholders tried to get Twitter executives to handle the problem. The very first query within the Q&A portion of the assembly requested what’s going to occur to Twitter shareholders’ inventory if “somebody” buys the corporate and takes it non-public. “We aren’t capable of deal with these questions immediately,” Sean Edgett, Twitter’s Common Counsel, stated, directing folks to the corporate’s earlier SEC filings.

Shareholders additionally raised questions on the long run of the corporate’s content material moderation insurance policies. Agrawal stated the corporate stays “targeted” on current its present insurance policies and “lowering our reliance on person reviews.” Although he didn’t straight deal with feedback Musk has made about loosening its guidelines, he stated that “silencing political commentary is antithetical to our dedication to free speech.”

The assembly additionally marks the top of co-founder Jack Dorsey’s tenure with Twitter. He had stepped apart as CEO in November, however remained on the board of administrators till the assembly. As with a lot of Twitter’s future, it was unclear who will succeed him.

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