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.
With less than two weeks to go, millions of voters are expected to tune in for Wednesday's two-hour French debate and Thursday's English debate. The topics for that debate are affordability, climate, COVID-19 recovery, leadership and accountability and reconciliation with Indigenous Peoples.
The Coast Guard and Royal Canadian Marine Search and Rescue also came to help. Working together, the four agencies rescued the 17 stranded paddleboarders and ferried them back to shore. 13 others managed to make it across the narrows to the North Shore.
85.1% (3,943,729) of eligible people 12 and older in B.C. have received their first dose of COVID-19 vaccine and 77.6% (3,594,929) received their second dose.
Dr. Bonnie Henry says residents will need to provide their personal health numbers, dates of birth and vaccination dates for their first and second doses to securely download their vaccine cards.
The woman was pinned under the dump truck, and bystanders and the driver of the dump truck assisted her with emergency first aid. This file remains under investigation.
To be eligible, travellers must have allowed at least 14 days to pass since their last vaccine shot and show proof of a negative molecular test for COVID-19 that's no more than 72 hours old.
