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.
Canada's chief public health officer Dr. Theresa Tam says the advice applies to people 12 and older whose immune systems are compromised for a variety of reasons like being treated for a tumour or having an untreated HIV infection that has advanced.
It is out of character for Siasat Cheema to be out of contact, and police and family are concerned for his well-being. Siasat Cheema is described as a 30 year old, South Asian man, 6 ft., 199 lbs., with black hair and a short beard. He was last seen wearing a white shirt and blue jeans.
Right off the bat, the role of the moderator, Shachi Kurl, came under fire, with Blanchet taking umbrage at what he termed her suggestion that Quebec is racist.
NDP Leader Jagmeet Singh was early out of the gate on Friday morning, holding a news conference in Ottawa to tout his party’s platform before flying to British Columbia where he was scheduled to vote in advance polls on the first day they open.
The BC Wildfire Service says campfire prohibitions are being removed across the entire Kamloops Fire Centre and in the Boundary fire zone of the Southeast Fire Centre.
Rezayee, who made history as one of Afghanistan's first two female Olympians in 2004, now lives in Vancouver. She founded Women Leaders of Tomorrow to support women and girls in Afghanistan through education and athletic opportunities.
