Twitter board to evaluate Musk's 'unsolicited, non-binding' $43B offer
Darpan News Desk IANS, 14 Apr, 2022 02:59 PM
San Francisco, April 14 (IANS) Twitter on Thursday said it will carefully review the "unsolicited, non-binding" proposal from Tesla CEO Elon Musk to acquire the micro-blogging platform for more than $43 billion.
"The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders," the micro-blogging platform said in a statement.
Earlier in the day, Musk made an offer to buy 100 per cent of Twitter at $54.20 per share, a 54 per cent premium over the closing price of Twitter on January 28, 2022, the trading day before Musk began investing in the company.
This is a 38 per cent premium over the closing price of Twitter on April 1, 2022, the trading day before Musk's investment in Twitter was publicly announced.
"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk said in the filing.
"However, since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."
In a letter to Twitter's board, Musk said he believes Twitter "will neither thrive nor serve societal imperative in its current form".
"If the deal doesn't work, given that I don't have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder," he added.
Earlier this week, Twitter CEO Parag Agrawal announced that Musk will not join the board of the company, saying that "he believes it is for the best".
The Indian-origin CEO last week said the micro-blogging platform has appointed Musk to its board of directors.
Musk, who acquired 9.2 per cent share in the micro-blogging platform for nearly $3 billion, is limited from buying more than 15 per cent of Twitter's stock.
Monte Design had sent the rocking chair to GurKiran Kaur Sidhu as a payback for her Instagram post, and Singh tagging it on his Instagram page breaches laws set out in the Canadian Conflict of Interest Act.
There are currently 35,770 active cases of COVID-19 in the province, and 262,591 people who tested positive have recovered. Of the active cases, 895 COVID-positive individuals are currently in hospital and 115 are in intensive care. The remaining people are recovering at home in self-isolation.
The victim has been identified as 25-year-old Melissa Blimkie from North Vancouver. The suspect has been identified as 31-year-old Everton Downey. The two were in a relationship for some time prior to the homicide.
On January 18, 2022 shortly before 9:00 p.m., Surrey RCMP responded to the report of a fight in front of a residence in the 13400-block of 66A Avenue. Upon arrival, officers located a 31-year-old man with a possible gunshot wound who was transported to hospital. The injury sustained was confirmed to be non-life threatening and the victim is expected to be released from hospital shortly.
A Canadian study suggests the antiviral medication remdesivir could have a "modest but significant effect" on COVID-19 patient outcomes, including decreasing the need for mechanical ventilation by approximately 50 per cent. The study, published Wednesday in the Canadian Medical Association Journal, is billed as the largest single-country trial of remdesivir reported to date.
A statement from the Ministry of Jobs, Economic Recovery and Innovation says businesses including event venues, bars, nightclubs and lounges that don't serve full meals are eligible for grants of up to $20,000, based on staffing levels.
