The deadline for Musk to buy Twitter is a few days away. Recently, Twitter froze the accounts of its employees' incentives. This latest move indicates that he hopes Musk will successfully complete the transaction. Twitter shares rose 2,05% to close at $51,78 in regular trading today, but that price was still below Musk's $54,2.
A judge from Delaware gave Mask the term until October 28 to close the deal. This week, Twitter updated its employee FAQ page. The update reminds employees that they cannot access share accounts through the Equity Award Center, nor can they trade shares. The company also made clear on the page that the Musk-controlled company is expected to complete the acquisition. Earlier, Musk refused and asked to withdraw the agreement. However, Musk changed his mind again earlier this month, saying the deal would be completed on its original terms.
Musk accuses Twitter of selling bot accounts
Twitter and Elon Musk, CEO of Tesla, have been at loggerheads over the past few weeks over the sale of Twitter. After Elon Musk refused to buy the company outright, Musk went to court. Tesla CEO Elon Musk complains that the company asked him for too much information. He claims the company even wants the entire content of the acquisition chat. Additionally, Musk initially accused Twitter of trying to sell bot accounts. According to reports, former security director Petter Zatko said Twitter executives did not have enough resources to fully understand the true number of bot accounts on its platform.
Zatko is a well-known hacker who was named Twitter's chief security officer two years ago. In January, the company announced that Zatko was leaving for unknown reasons. It blames the blue app for serious security vulnerabilities and spam accounts. This ultimately misleads the regulators. However, none of that will matter now, as Elon Musk will now extend the deal.