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.
719 sudden and unexpected deaths have been reported in the province during the historic heat wave, and that number over a seven-day period is unprecedented. Lisa Lapointe says the number of fatalities is three times more than what would normally occur during the same period.
In response to a temporary gap in pediatrician coverage at Peace Arch Hospital, Fraser Health is asking pregnant individuals requiring labour and delivery support to not proceed to the hospital during the period of July 8th to July 19th.
78.7% of all adults in B.C. and 77.5% of those 12 and older have now received their first dose of a COVID-19 vaccine. In addition, 35.2% of all adults in B.C. and 32.9% of those 12 and older have received their second dose.
Lisa Lapointe told a news conference Friday that a team is standing by to conduct an investigation in order to confirm the deaths, but it's not yet safe to enter the area.
The $1 billion the Liberals set aside in the fall for the rapid-housing program went faster than the timelines to get units built. The combined value of all applications the government received amounted to about $4 billion, with hundreds left unfunded.
Telus Corp. says its has deployed emergency communications equipment to support local authorities and emergency crews dealing with the wildfire in Lytton, B.C. Telus is the main wireless provider for the Lytton area, where about 1,000 people fled to safety after the emergency evacuation order was issued this week.
