Elon Musk Twitter – latest: Major shareholder rejects takeover bid as all-hands crisis meeting called




<p>US Musk Twitter</p>
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(Copyright 2022 The Associated Press. All rights reserved)

Elon Musk has made a shock offer to buy the entirety of Twitter.

The billionaire said that he did not have confidence in the company’s management and that it needed to undergo changes that could not happen without it being purchased.

He offered over $40 billion for the company, and said that he might sell his existing shareholding if the offer is not accepted.

Mr Musk recently announced that he had bought just under 10 per cent of the company, making him its biggest shareholders. He was offered and initially accepted a seat on his board – before announcing that he would not join after all, prompting speculation over his plans from him.

Now he has said that he wants to buy the company to protect “free speech” and unlock what he said is the “extraordinary potential” of the social network.

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Elon Musk says he has a Plan B if Twitter bid rejected

The Tesla CEO was asked if he had another line of attack if his $43bn offer for the social media platform was rejected.

“There is,” he told a TED Talk in Vancouver, Canada, on Thursday, when asked for more details.

“For another time I think,” he added.

Graeme Massie14 April 2022 19:10

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Elon Musk says Twitter takeover would help ‘civilisation’ and calls for end to ‘mysterious demotion’ of tweets

Elon Musk has called for more transparency in Twitter’s algorithm after presenting a $40bn offer to buy the company.

Mr Musk explained changes he’d like to see the platform in a TED Talk on Thursday afternoon, saying he believes improving public trust in the platform is “extremely important to the future of civilisation”.

Megan Sheets has the story.

Graeme Massie14 April 2022 18:44

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Saudi prince, who is major Twitter shareholder, rejects Elon Musk offer to buy company

A Saudi prince, who is a major Twitter shareholder, says he will reject Elon Musk’s $43bn offer to buy the company.

Al Waleed bin Talal took to Twitter to say that he was rejecting the entrepreneur’s cash offer for the social media platform because it was too low.

Graeme Massie14 April 2022 18:32

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White House declines to comment on Musk’s Twitter offer

The White House says it has no comment on Elon Musk’s bid to buy social media platform Twitter. “This is an offer by a private investor,” White House Principal Deputy Press Secretary, Karine Jean-Pierre, told reporters onboard Air Force One.

Graeme Massie14 April 2022 18:02

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Republican lawmakers support Musk’s Twitter takeover

“Elon Musk’s) fight for free speech is patriotic and necessary. He deserves the Medal of Freedom,” Rep. Lauren Boebert of Colorado tweeted.

While, Rep. Jim Jordan of Ohio tweeted, “Elon Musk. Free speech.”

Graeme Massie14 April 2022 17:58

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Saudi Prince Al Waleed bin Talal Al Saud explains rejecting Elon Musk’s offer

“I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of (Twitter) given its growth prospects. Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.”

Graeme Massie14 April 2022 17:44

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Cramer says Twitter board ‘no choice’ but to reject offer

The CNBC financial expert says that the Twitter board has “no choice” but to reject Elon Musk’s offer of $54.20 per shars.

“They have no choice but to reject it,” Cramer said on Squawk on the Street on Thursday.

“If they say, ‘we accept,’ they’re phony. And they’re not phonies.”

And he added that the board could face potential “personal liability” if the board took the deal, which would value the company at around $43bn.

“This is one of those where they are literally not doing their job, there’s no fiduciary responsibility if they just say, you know what, we take it,” Cramer said.

“There are times when individual directors are opened up for a level of lack of fiduciary that I think crosses the line. This crosses the line.”

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing “Cyber ​​Rodeo” grand opening party in Austin, Texas, on April 7, 2022

(AFP via Getty Images)

Graeme Massie14 April 2022 17:32

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NFL great Tom Brady asks Elon Musk to delete embarrassing photo if he buys Twitter

The legendary quarterback once posed for an unflattering shirtless photo at the NFL Combine as he tried to get drafted by professional teams, and now he wants the entrepreneur to get rid of it.

“If you buy twitter can you delete the combine photo? @elonmusk” Brady tweeted on Thursday.

Graeme Massie14 April 2022 17:11

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One Twitter shareholder rejects Musk’s bid

Saudi Prince Al Waleed bin Talal Al Saud, one of Twitter’s largest shareholders, rejects Elon Musk’s bid, according to reports

adam smith14 April 2022 16:55

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The American ideals of free speech stems from the First Amendment of the US Constitution. It states: “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances”.

adam smith14 April 2022 16:45


www.independent.co.uk

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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