Despite ongoing turbulence, Twitter chairman Bret Taylor has said he remains committed to closing Elon Musk’s $44bn takeover bid.
Speaking at a tech conference in Paris, Taylor said: “The board is committed to the transaction”, adding no further detail to the ongoing discussions with the eccentric billionaire.
It is understood that Musk is due to attend Twitter’s all-hands meeting tomorrow, formally addressing Twitter employees, as well as ironing out for the future of Twitter.
An ongoing point of contention for the Tesla founder centres on the social media’s bot and spam accounts.
Despite the fact that Twitter has openly said its bot estimates are estimates and not exact figures, Musk has demanded more data and suggested the deal ‘cannot move forward’ without this.
In reality, Musk has signed a binding contract requiring him to buy Twitter, and any breaking of this would require him to pay a $1bn breakout fee.
As Hargreaves Lansdown senior investment and markets analyst Susannah Streeter rather aptly put it, Musk’s Twitter takeover “was always destined to be a bumpy ride”.