Twitter Locks Employee Stock Accounts Ahead Of Elon Musk Buyout

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Days before the deadline to finalize the company’s deal with Elon Musk, Twitter Inc. has frozen the equity award accounts for employees. The move suggests that the social media company is hopeful the deal with the Tesla CEO will be finalized.

A Delaware court has directed Elon Musk, the CEO of Tesla Inc., and Twitter to finalize their $44 billion acquisition deal on October 28. The agreement was initially made public in April, following a dramatic back-and-forth between the two parties.

As noted in a Bloomberg News report, the social media company updated its employee FAQ page this week. One of the updates informed personnel that they wouldn’t be able to access or exchange shares from the company’s Equity Award Center.

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