Twitter Reportedly Locks Employees\' Stock Accounts Ahead of Musk Deal

Amidst the ongoing saga surrounding Elon Musk\'s acquisition, Twitter has reportedly locked staff stock accounts. This development comes days ahead of the deadline to close its deal with Tesla CEO Elon Musk, sparking speculation and concern among employees.

According to a Bloomberg News report on Tuesday, Twitter Inc. has frozen equity award accounts for employees. This action was taken as the deadline to seal a deal with Elon Musk approaches, as Reuters also reported. The move has left many wondering about the future of their equity and the implications for the overall acquisition process.

Staff at Twitter have reportedly been notified that they will not be able to access their shares or trade shares through the company\'s Equity Award Center. This freeze, impacting equity award accounts, occurred on Monday, a few days before the deadline. The social media company updated its procedures, restricting employee access.

This news follows a tumultuous period where, after reaching an agreement to purchase Twitter for $44 billion in May, Musk attempted to back out of the deal, claiming that the social media company had not provided accurate information. Now, with the deadline looming, the decision to freeze stock accounts adds another layer of complexity to the already dramatic acquisition process.

The locking of employee stock accounts raises questions about employee morale and confidence in the company\'s direction during this transitional phase. More updates to follow as the deadline approaches.