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.
Frontline officers attended and located an injured 33-year-old man. The victim was transported to hospital and due to the serious nature of his injuries is not expected to survive.
Brian Porter called a tax hike that's widely expected to be included in Thursday's budget a “knee-jerk reaction that sends the wrong message to the global investment community."
Police say when the officer was speaking to the complainant, the man fled into the home and the officer was stabbed after he followed. The release says the officer was able to take the man, who was known to the complainant, into custody and drive himself and the suspect to hospital.
A Vancouver Police officer was patrolling near Main Street and Terminal Avenue when he attempted to stop a vehicle that was allegedly driven by a 29-year-old man with 10 Canada-wide warrants, including charges for firearms and drug trafficking.
Three-decade-high inflation rates may climb further. Unemployment is low, but labour shortages are widespread. Housing prices continue to rise at paces not seen in years.
Surrey RCMP were called to the building on 107a Ave. near King George Blvd. at about 8:20 p.m. Upon arrival, officers found a lower floor suite fully engulfed in flames, and began evacuating the building.
