Twitter CEO expects Musk deal to close but is preparing for other scenarios

In case the sale of the company to Musk doesn't go through, Parag is continuing to run it.

While I expect the deal to close, we need to be prepared for all scenarios and always do what's right for the company.

The deal is on hold until Musk finds out how many fake accounts are on the platform. The company's value has plummeted recently, and the stock sank almost 10%. It is now worth about $13 billion less than Musk agreed upon.

Musk may not be able to walk away. CNBC reported earlier that he would be on the hook for a $1 billion breakup fee and could face a lawsuit that would cost him billions more.

A day after the company said it was freezing hiring, withdrawing offers and cutting costs, Agarwal made comments through a series of twits. The head of consumer, Kayvon Beykpour, said that he was asked to leave.

The industry is in a very challenging environment right now. I will not use the deal as an excuse to avoid making important decisions for the health of the company.

He will try to bring more transparency to the work that is being done on the platform.

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Musk says he is still committed to the deal.