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.
Karen Ward said a study that showed high vaccine uptake in the neighbourhood also suggests a co-ordinated strategy can work with a marginalized group that sometimes faces discrimination in the health-care system.
The man, who was in a green truck with a canopy, invited the youths to get into his vehicle to have some juice. Sensing the situation was unsafe, the youths ran away, went home, and told their parents what had happened.
The recalled chocolates include Kinder Schoko-Bons, Happy Moments - Kinder Confections Assortment, Kinder Mini Eggs, Kinder Egg Hunt Kits, Kinder Mix 7 Easter Treats, Kinder Surprise Miraculous, Kinder Surprise Natoons and Kinder Surprise.
The economy has fared better than anticipated over the past few months, which along with higher prices for oil is expected to pad the government's bottom line and help offset any new spending to be announced.
Dr. Theresa Tam, Canada's chief public health officer, said last month it's important to look at the amount of COVID-19 in your community and what activity you are undertaking.
Only this time, there’s a formal agreement to make sure Canadians aren’t going back to the polls any time soon. NDP Leader Jagmeet Singh has promised his caucus will shore up the Liberal voting numbers for this year’s budget and the three after that.
