Twitter Is Seriously Considering Taking Up Elon Musk's $43 Billion Takeover Offer

When Elon Musk made the offer of buying Twitter for over $43 Billion, many people, including Twitter, assumed that he was joking or trying to troll the micro-blogging site. Ever since then, Musk, on a number of occasions, has said that he was seriously considering taking over Twitter and bringing in some sweeping changes. He has also claimed that if he needs to go through with the plan, he has ensured that he has enough liquidity to go through with the purchase.

Twitter Board Members Negotiating With Elon Musk On His Offer To Buy Twitter

The board members of Twitter, who have been at the receiving end of quite a few barbs from Musk, are now actually considering selling their stake and the company to Elon, and allowing him to take over. This is a surprising move from the board, given that just a few weeks ago, they were trying tooth and nail to thwart a hostile Musk’s hostile takeover attempt.

Things seemed to have changed for Twitter when Musk announced that he is in a position to arrange the financing for his bid - nearly $26 billion from more than a dozen investment banks, and another $21 billion from his own personal funds.

The board of directors at Twitter reportedly met Musk’s representatives and will continue to meet them all through Thursday, when they are expected to announce what will be happening to the takeover bid. This announcement will take place on Thursday when it reports its first-quarter earnings.

Musk already owns 9 per cent of Twitter, which is marred with accusations of misconduct, and unorderly declarations. The $47 billion Musk has lined up for Twitter, is about $9 billion more than what he would need to acquire the other 91 per cent, as per calculations by Bloomberg.

Some of Twitter’s biggest shareholders & Musk met privately on Friday, with Musk emphasizing the board's need to make a "yes or no" decision. Musk’s team then met the board of Directors at Twitter, where they have been discussing Musk’s bid and have been trying to negotiate Musk’s bid. 

Twitter Board Members Negotiating With Elon Musk On His Offer To Buy Twitter

Reports claim that Twitter’s board had to take a look at Musk’s offer because Twitter’s shareholders have been pressuring the board. The board has a fiduciary responsibility toward their shareholders and is legally bound to do what the shareholders feel would serve them best.



from Firstpost Tech Latest News https://ift.tt/R9Slk6U

Comments

Post a Comment

Popular posts from this blog

COVID-19 origins: Should we pay more attention to the lab leak theory and formally investigate it?

Image
A year and a half into the pandemic, we still do not know exactly where the SARS-CoV-2 virus, which causes Covid-19, came from. The prevailing view so far has been that the virus “spilled over” from bats into humans. But there are increasing calls to investigate the possibility that it emerged from a lab in Wuhan, China, where Covid first appeared at the end of 2019. So what do we know for sure, and what do we need still to find out? We know the sequence of the SARS-CoV-2 virus is close to that of bat coronaviruses . Several decades ago its “ancestor” was circulating in bat populations in southern Asia. But there are still many unanswered questions: we don’t know how the virus arrived in Wuhan, how its sequence evolved to allow human infection, and under what conditions it infected the first people who crossed its path. And for each of these stages, we don’t know whether there was a human contribution (direct or indirect). Zoonotic transmission pathways, in other words the pas
Read more

Menstrual cups are cheaper, more sustainable than pads and tampons for women

Image
Every year in America, women spend at least US$2.8 billion on sanitary pads and tampons that can take hundreds of years to decompose . Is there a more economical and environmentally friendly way? To find out, we asked Susan Powers , a professor of sustainable environmental systems at Clarkson University about her work comparing the environmental impact of tampons, sanitary pads and menstrual cups. What is a menstrual cup? A menstrual cup is a type of reusable feminine hygiene product. It’s a small, flexible bell-shaped cup made of rubber or silicone that a woman inserts into her vagina to catch and collect menstrual fluid. It can be used for up to 12 hours, after which it is removed to dispose of the fluid and cleaned. The cup is rinsed with hot water and soap between each insertion and sterilized in boiling water at least once per period. A cup can last up to 10 years . Although menstrual cups have been around for decades, they historically have been less popular than pads or ta
Read more

Human bodies respond to infections differently depending on the time of day

Image
When microorganisms – such as bacteria or viruses – infect us, our immune system jumps into action. It’s highly trained to sense and eliminate infections and clear up any damage caused by them. It’s typically assumed our immune systems work the exact same way regardless of whether an infection occurs during the day or at night. But research spanning over half a century now shows our bodies actually respond differently at day and night. The reason for this is our body clock, and the fact that each cell in the body, including our immune cells, can tell what time of day it is. Our body clock has evolved over millions of years to help us survive. Every cell in the body has a collection of proteins that indicate the time depending on their levels. Knowing whether it’s day or night means our body can adjust its functions and behaviours (such as when we want to eat) to the correct time. Our body clock does this by generating 24 hour rhythms (also termed circadian rhythms ) in how cells f
Read more