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.
Students grade 4 to 12, staff, teachers, visitors and administers will be required to wear masks in school when classes return in September in BC. Education Minister Jennifer Whiteside says it will be full, in person learning. The mask mandate is for indoor spaces, like last school year. Extra curriculars will be back.
Fire information officer Taylor Colman says crews are seeing between three and five fires start each day compared with about 40 in July. She says most of the wildfires of note — including White Rock Lake at about 810 square kilometres and Lytton Creek at 845 square kilometres — have not seen much growth.
Scientists are most worried about old-growth forests in fire areas, which are home to the Canada lynx, the marten, fishers, caribou and northern goshawk, she said.
The prosecution service says in a statement that Const. Lacey Browning faces one count of assault after a wellness check in Kelowna on Jan. 20, 2020. A civil lawsuit was settled this year between Browning and Mona Wang, who was a nursing student at the University of British Columbia's Okanagan campus.
There are 5,056 active cases of COVID-19 in the province and 153,627 people who tested positive have recovered. Of the active cases, 133 individuals are in hospital and 80 are in intensive care. The remaining people are recovering at home in self-isolation.
UPDATE: The RCMP is pleased to confirm that the 14 year-old youth that was reported missing on August 23, 2021, has been located, and she is safe and sound. Thanks to the media and public for your assistance. The original release has been deleted from our social account.
