Wednesday 5 October 2022 07:30 AM 'Living the plot of Succession is f**king exhausting': Twitter staff melt down ... trends now
Twitter staff on Tuesday were posting exasperated and worried memes after it emerged Elon Musk was renewing his bid to buy their company.
Musk pulled out of his planned purchase of the company in July, and was facing legal action over backing out.
On Tuesday, he shocked Silicon Valley by offering to complete the buyout at his original offer price of $44 billion.
Employees were taken aback.
'Living the plot of succession is f***ing exhausting,' said Rumman Chowdhury, the director of the META (ML Ethics, Transparency and Accountability) team at Twitter.
Elon Musk on Tuesday shocked Twitter employees by reviving his $44 billion bid for the company, meaning he could take over within weeks
She added: 'I am sitting on 2023 company wide strategy readouts and I guess we are going to collectively ignore what's going on.'
Parker Lyons, a senior financial analyst at Twitter, tweeted a series of memes, including a young girl crying captioned: 'writing my little emails today'.
He also tweeted a cartoon of someone attempting '2023 planning' and being told: 'This is worthless.'
One image featured a mock up of Mark Zuckerberg as a priest welcoming newcomers to his flock, captioned: 'Meta recruiters for the next 48 hours'.
Another staffer, EJ Samson, tweeted a clip of a Balenciaga model angrily marching through a catwalk covered in mud.
'I encourage every Twitter employee to go outside and take a walk,' he wrote.
Some workers were venting their frustrations on the chat forum Blind, CNN reported.
'Cue the layoffs,' one anonymous staffer reportedly wrote.
Musk on Tuesday confirmed the deal, tweeting: 'Buying Twitter is an accelerant to creating X, the everything app.'
Musk had been battling for months to back out of the deal, and legal and financial analysts widely believe that he acquiesced due to fears that he could be forced to complete the transaction after a highly public, potentially embarrassing trial.
Twitter had sued Musk in order to force him to complete the agreed-on merger, and the case was due to go to trial in Delaware court on October 17, until Musk backed down and agreed to carry out the deal.
'Musk saw the writing on the wall and knew his chances of a victory in Delaware were slim to none with the best path accepting the current deal and move forward,' wrote Wedbush analyst Dan Ives in a note obtained by DailyMail.com.
'Being forced to do the deal after a long and ugly court battle in Delaware was not an ideal scenario and instead accepting this path and moving forward with the deal will save a massive legal headache,' he wrote.
The billionaire did not elaborate on his plans for an 'everything app' or explain what such a product would offer.
However, he has previously indicated that he could build an alternate social media platform called X.com if his Twitter buyout failed. PayPal, which Musk co-founded, was originally known as X.com, and SpaceX is one of his major ventures.
The private Musk-controlled company that will acquire Twitter in the buyout is officially known as X Holdings.
Elon Musk has acknowledged his abrupt reversal and agreement to buy Twitter in a tweet suggesting that he is now eager to complete the transaction
Musk had been battling for months to back out of the deal, and legal and financial analysts widely believe that he acquiesced due to fears he would lose a court battle
Earlier in the day, Twitter accepted Musk's proposal to buy the company for $44billion, with a deal expected to close within weeks.
A spokesman for the company told DailyMail.com on Tuesday afternoon: 'We received the letter from the Musk parties which they have filed with the SEC.
'The intention of the Company is to close the transaction at $54.20 per share.'
Regulatory filings on Tuesday revealed that Musk's attorneys sent Twitter a letter confirming that he planned to buy the company at the original price he proposed - $44billion.
It was a surprising U-turn from the bombastic billionaire, but was prompted by his fear that he'd end up being ordered to buy the company anyway in court.
Musk had been trying to back out of the Twitter deal, claiming the company was hiding how many spam accounts were active on the site. Twitter took him to court to try to force the takeover through.
The judge, Chancellor Kathaleen McCormick, recently rejected Musk's request to delay proceedings. Sources cited by Bloomberg on Tuesday said he feared she would end up siding with Twitter in the matter and force him to buy the company after a highly public, potentially embarrassing trial.
Musk's new offer to complete the deal is contingent on Twitter halting its lawsuit to force the transaction. Now, with a deal nearing a close, Twitter's share price is soaring.
Trading was halted at 12.10pm on Tuesday after the shares jumped 13 percent to $47.93, and the stock closed at $52, an increase of 22 percent on the day.
Trading was halted at 12.10pm on Tuesday after the shares jumped 13 percent to $47.93, and the stock closed at $52, an increase of 22 percent on the day
Texts between Musk and his famous friends about the deal were already made public in the court docket.
Musk had been scheduled to be deposed by Twitter's attorneys starting on Thursday, which would have forced him to answer potentially embarrassing questions under oath.
Now, Musk is expected to own the company within a matter of weeks, if not days. He has not commented publicly about the new offer.
Once in charge of Twitter, Musk plans to make changes to enhance freedom of speech.
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