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Elon Musk Twitter – latest: Major shareholder rejects takeover offer, as a crisis meeting has been convened for all

(Copyright 2022 Associated Press. All rights reserved)

Elon Musk made a shocking offer to buy the whole of Twitter.

The billionaire said that he does not trust the company’s management and that it must undergo changes that cannot happen without it being bought.

He offered more than $ 40 billion to the company and said he could sell his existing stake if the offer is not accepted.

Mr Musk recently announced that he had bought just under 10% of the company, making it its largest shareholder. He was nominated and initially accepted a seat on his board – before announcing that he would not join, which sparked speculation about his plans.

Now he said he wanted to buy the company to protect “freedom of speech” and unlock the “extraordinary potential” of the social network.

Key points

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Elon Musk says the takeover of Twitter will help “civilization” and calls for an end to the “mysterious downgrade” of tweets

Elon Musk has called for more transparency in Twitter’s algorithm after bidding $ 40 billion to buy the company.

Mr Musk explained the changes he would like to see on the TED Talk platform on Thursday afternoon, saying he believed improving public confidence in the platform was “crucial for the future of civilization”.

Megan Sheets has the story.

Graham Massie April 14, 2022 6:44 p.m.


The Saudi prince, who is a major shareholder on Twitter, rejects Elon Musk’s offer to buy a company

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

Al-Walid bin Talal took to Twitter to say he rejected the entrepreneur’s money offer for the social media platform because it was too low.

Graham Massie April 14, 2022 6:32 p.m.


The White House declined to comment on Musk’s proposal on Twitter

The White House said it had no comment on Elon Musk’s offer to buy social media platform Twitter. “This is an offer from a private investor,” White House Deputy Spokeswoman Karin Jean-Pierre told reporters aboard Air Force One.

Graham Massie April 14, 2022 6:02 p.m.


Republicans support Musk’s takeover on Twitter

“Elon Musk’s struggle for freedom of speech is patriotic and necessary. He deserves the Medal of Freedom, “tweeted Laurent Boubert of Colorado.

While Ohio spokesman Jim Jordan tweeted: “Elon Musk. Free speech. “

Graham Massie April 14, 2022 5:58 p.m.


Saudi Prince Al Walid bin Talal Al Saud explains rejection of Elon Musk’s proposal

“I do not believe that the offer offered by @elonmusk ($ 54.20) is close to the intrinsic value of (Twitter) given the growth prospects. As one of the largest and long-term shareholders of Twitter, @Kingdom_KHC and I reject this offer.

Graham Massie April 14, 2022 5:44 p.m.


Kramer says Twitter’s advice “has no choice” but to reject the offer

CNBC’s financial expert says the Twitter board “has no choice but to reject Elon Musk’s $ 54.20 share offer.”

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

“If they say ‘we accept,’ they are fake. And they are not fake. “

He added that the board could face potential “personal liability” if the board accepts a deal that will value the company at about $ 43 billion.

“It’s one of those people where they literally don’t do their job, there’s no fiduciary responsibility, if they just say, you know what, we’re taking it,” Kramer said.

“There are times when individual directors are open to a level of lack of trust that I think crosses the line. That crosses the line. “

Tesla Motors CEO Elon Musk spoke at the inauguration of Tesla Giga Texas for the Cyber ​​Rodeo in Austin, Texas, on April 7, 2022.

(AFP via Getty Images)

Graham Massie April 14, 2022 5:32 p.m.


Great NFL Tom Brady begs Elon Musk to delete embarrassing photo if he buys Twitter

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

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

Graham Massie April 14, 2022 5:11 p.m.


A Twitter shareholder rejected Musk’s offer

Saudi Prince Al Walid bin Talal Al Saud, one of Twitter’s biggest shareholders, has rejected Elon Musk’s offer, according to reports

Adam Smith April 14, 2022 4:55 p.m.


American ideals of freedom of speech stem from the First Amendment to the United States Constitution. It reads: “Congress will not pass a law that respects the establishment of a religion or prohibits its free exercise; or restriction of freedom of speech or of the press; or the right of the people to assemble peacefully and petition the government to rectify the complaints. “

Adam Smith April 14, 2022 4:45 p.m.


In 2018, the billionaire was accused of fraud by the US Securities and Exchange Commission (SEC) after he wrote on Twitter that he was considering taking Tesla private for $ 420 per share.

“Musk’s statements circulated on Twitter falsely indicate that if he chooses, it is almost certain that he can take Tesla’s private purchase price, which reflects a significant premium over the then Tesla share price that funding for this multi “The multibillion-dollar transaction was also secured and the only unforeseen event was a shareholder vote,” the SEC lawsuit said.

Subsequently, after $ 20 million was paid by Mr. Musk and Tesla, the billionaire was forced to get the company’s lawyers to review his tweets before they were sent – something that was not always the case.

Adam Smith April 14, 2022 4:30 p.m.