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.
In a letter to Prime Minister Justin Trudeau, the group PolySeSouvient calls for the appointment of a minister who "truly supports gun control." PolySeSouvient has frequently expressed frustration with Liberal efforts to strengthen gun laws, led in recent years by Bill Blair, a former Toronto police chief, as public safety minister.
Lewis said the last miner to emerge from the ground was taken away in an ambulance as a precautionary measure, but "walked onto the ambulance and was giving fist bumps to the mine rescue team in the warm room."
Dr. Katharine Smart, president of the national association, is urging the federal and provincial governments to take immediate action. The association is calling for short, controlled lockdowns, often called "firebreakers" or "circuit-breakers," which would close schools and non-essential businesses.
Questions remain about what the return to Parliament will look like for Canada's 338 representatives after the recent federal election saw the Liberals re-elected to a minority government.
The report comes less than a month after chief coroner Lisa Lapointe said January to June was the deadliest ever for drug toxicity in B.C. With data from July added, the report says the 1,204 suspected illicit drug toxicity deaths are the highest ever in the first seven months of a year — 28 per cent above the same period last year.
British Columbia has recorded another 652 cases of COVID-19 and 2 related deaths, according to an update posted after officials announced new regional restrictions for part of the Lower Mainland. There has been an uptick in coronavirus hospitalizations to 316, up from 303 on Monday, with 141 patients in ICU.
