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Twitter considers Elon Musk’s takeover bid as Twitterverse reacts

·2-min read
Elon Musk Twitter account and Twitter logo
Elon Musk has a 9.2 per cent stake in Twitter. (Source: Getty)

Twitter was still assessing billionaire Elon Musk’s takeover bid, chief executive officer Parag Agrawal told employees on Thursday.

During a meeting, Agrawal sought to reassure employees the company was not being "held hostage" by news of the Tesla and SpaceX boss’s offer to buy the company, a source told Reuters.

As Agrawal took questions from staff on the company's Slack messaging service, he encouraged employees to remain focused and told them: "We, as employees, control what happens", said the source, who did not want to be identified because they were not authorised to speak publicly on the matter.

How it happened

After declining a seat on Twitter’s board earlier this week, the company’s largest stakeholder offered to buy the social media platform in its entirety.

He laid a cool $58 billion (US$43 billion) on the table, offering $73 (US$54.20) per share in cash, which was a premium of about 20 per cent over yesterday's opening price.

Musk planned to take the company private to help it realise its “potential to be the platform for free speech around the globe”.

“Twitter has extraordinary potential,” he said. “I will unlock it.”

Reactions

Many Twitter users were concerned Musk’s takeover could signal the end to checks on user-generated content.

Others welcomed the move.

-With AAP

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