Social media company Twitter has reportedly locked its employee stock accounts in anticipation of a deal, according to Bloomberg. This could be an indication of an imminent deal closing with the Twitter purchase by Elon Musk. However, whether there would be any change in the deal terms remains to be seen. As this news broke, Twitter stock is on the rise. Earlier this month, an SEC filing by Elon Musk reiterated his Twitter takeover plans after initially placing it on hold.
Ed Ludlow, a Bloomberg journalist, confirmed the news of the locking of Twitter employee stock accounts. In a tweet, Ludlow said Twitter has frozen equity awards accounts for employees on Monday. This comes as the deadline to seal a deal with Elon Musk approaches. The move could be a signal that Twitter is marching forward with the proposed deal. Meanwhile, the Twitter stock is on the rise after this news. The Twitter stock is now up by around 1.81%.
“Twitter has frozen equity awards accounts for employees on Monday as the deadline to seal a deal with Elon Musk approaches. The move is a signal that Twitter is marching forward with the proposed deal.”
A Bloomberg report said that Twitter updated its employee FAQ page this week to alert staff of the move. Employees won’t be able to access or trade shares from the Equity Award Center. The change was done in anticipation of the closing of the pending acquisition of Twitter by an entity controlled by Elon Musk, the report mentioned. “This freeze allows Schwab to perform final reconciliation of employee accounts prior to close of the acquisition,” it said.
This move could finally put an end to the Twitter Elon Musk takeover deal. Will this lead to any surprise developments for the crypto community? There is a slight chance of an early crypto inclusion as part of Twitter’s revival process. Recent reports suggested Dogecoin (DOGE) could potentially become Twitter’s official native currency in future.
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