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Twitter CEO expects Musk deal to close but preparing for all scenarios

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Parag Agrawal is named Twitter CEO, Nov 29, 2021.

Courtesy of Twitter

TwitterParag Agrawal is the CEO said FridayAlthough he expects Elon Musk’s sale to proceed, he will continue to manage the company in any event.

Agarwal stated in a tweet that although I believe the deal will close, “we need to be ready for all situations and always do what is best for Twitter.” We have the responsibility of building a stronger Twitter each day.

Musk earlier tweeted on Friday, that the deal is on holdHe will not reveal more information about how many spam bots and fake accounts are present on the platform until then. It plunged almost 10% which contributed to the recent decline in company value. Now, it’s worth $13B less than Musk’s. agreed upon bidLast month, $44 billion

The billionaire Tesla CEO may be unable to walk away. He would have to pay a $1 million breakup fee, and could be subject to a breach-of-contract lawsuit which would result in him being sued for billions. according to an earlier CNBC report.

Agarwal posted a series tweets expressing his opinions on the matter, one day after Agarwal left. said it was freezing hiring, rescinding offers and cutting costs. Kayvon Beykpour was the head of consumer products and Agarwal told him that Kayvon had asked Kayvon to leave.

“People also ask: Why manage costs now instead of after close? Agarwal said. “Our industry is in a very challenging macro environment — right now. Twitter leaders will not use this deal to excuse themselves from making critical decisions about the health and well-being of their company.

Agrawal stated that he intends to be more transparent about the work Twitter does to enhance public conversations.

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