Twitter CEO tells employees board still evaluating Elon Musk takeover

The company was still evaluating a $43 billion offer by Musk to buy it and take it private, setting the stage for a potentially drawn-out feud with the world's richest person.

After watching clips of the songs "I Say A Little Prayer" and "I Want It That Way", he began a 25-minute Q&A session with employees. He didn't say when the board would answer Musk's offer or which way it was leaning, frustrating some who expected a more detailed explanation. He said that the board would follow a rigorous process and make a decision in the best interest of the shareholders.

Employees of the social network were worried about the future of the site if Musk took it over. At least one employee asked about the possibility of future layoffs, which Agrawal said wouldn't be dictated by individual performance ratings. He said it was too early to speculate about what would happen to employee stock options if the company were taken private. During the focus week, when employees had Monday off, they were encouraged to be heads-down on projects and take few meetings.

Prior to the meeting, Musk criticized the possibility of board action against the deal, saying it would be indefensible not to put this offer to a shareholder vote.

The remarks suggest that a messy, Succession-style corporate battle could play out in the coming days. A poison pill is a common strategy for refuting hostile takeover attempts. At the TED conference on Thursday, Musk told the audience that he had a plan B if his offer was rejected.

Employees are wondering if it can survive future takeover attempts even if it succeeds in defending against Musk. At one point during the all-hands, an employee asked if they would invite any billionaires to the board.