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.
There are 5,937 active cases of COVID-19 in the province and 182,045 people who tested positive have recovered. Of the active cases, 345 individuals are in hospital and 144 are in intensive care.
Several unions have raised concerns about how the government intends to verify employee vaccine status, and Aubry said he also wants to know how that confidential health information will be stored.
Statistics Canada data show Canadians bought 38.6 billion litres of gas in 2020, 14 per cent less than the year before and less than in any other year since 2001.
Yet survivors and experts of military sexual misconduct are expressing outrage over Maj.-Gen. Peter Dawe’s new role, saying it raises even more questions about the Armed Forces’ ability and commitment to addressing the problem.
Human Rights Watch says in its report that while those two groups are at a greater risk of heat stress, many were left to cope with the dangers of record-high temperatures on their own.
The BC Public Service Agency said Tuesday the requirement is part of an effort to increase vaccination rates throughout the province. It has set Nov. 22 as a deadline for workers in core government services or ministries to show proof of vaccination using the BC Vaccine card.
