Tesla CEO Elon Musk will reportedly reiterate his desire to acquire Twitter during a virtual question-and-answer session with employees of the San Francisco-based social media site on Thursday.
Shares of Twitter surged by nearly 3% in pre-market trading on Thursday after The Wall Street Journal reported what Musk was expected to tell the company employees during the all-hands meeting.
Investors were caught off guard by Musk last month when he indicated that he was putting the $44 billion acquisition “on hold” pending an examination of the site’s prevalence of bot and spam accounts.
It has been speculated that Musk was using the “bot” issue as a ploy to renegotiate a lower purchase price. Musk agreed to pay $54.20 a share, but Twitter’s stock since then has dipped to below $40 per share.
Musk’s one-hour long planned meeting as well as his move to increase the equity he is committing to the deal has reassured shareholders that the acquisition will go forward.
Twitter shareholders are due to vote on the deal later this summer, according to the Journal.
Musk is also expected to clarify recent remarks he has made about getting workers back into the office.
He will also likely address his plans to maximize profitability through subscriptions and advertising, the Journal reported.
Earlier this month, Musk ordered Tesla staffers back into the office full-time — and invited employees who weren’t happy to pack up and “pretend to work somewhere else.”
In a terse email sent to corporate Tesla staffers, Musk wrote that “Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla. This is less than we ask of factory workers.”
“If there are particularly exceptional contributors for whom this is impossible, I will review and approve those exceptions directly,” Musk added.
“Moreover, the ‘office’ must be a main Tesla office, not a remote branch office unrelated to the job duties.”
According to the Journal, Musk is expected to show some flexibility on the issue of remote work. He is likely to tell Twitter employees that he has no problem with engineers continuing to work from home, and that his initial email was aimed at certain executives.
Musk, who has criticized Twitter for relying too heavily on advertising, is expected to tell Twitter employees that the company should diversify its revenue streams through subscriptions.
Another hot-button topic that Twitter employees are expected to quiz Musk on is online harassment and content moderation.
Musk has stated his intention to loosen up Twitter’s policies as it relates to banning users for posting content deemed to be offensive.
Twitter employees have been critical of Musk’s plans. They insist that Twitter needs to police content in order to protect marginalized groups of people who have been targeted for harassment.