Current Events > Twitter board unanimously endorses Musk takeover

(+) Yeah! (+)

https://www.nationalreview.com/news/twitter-board-unanimously-endorses-musk-takeover/

Twitters board of directors on Tuesday unanimously recommended that its shareholders approve the companys proposed $44 billion sale to Tesla CEO Elon Musk, according to a filing with the Securities and Exchange Commission.

The board unanimously determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders, according to the filing.

The deal has at times fallen into uncertainty since Musk first offered $54.20 per share to take the company private in April. Shares rose roughly 3 percent to $38.98 before the opening bell Tuesday.

Musk, who is the richest man in the world, said there are still a few unresolved matters involving the deal at the Qatar Economic Forum on Tuesday. He has previously expressed concern that Twitter had concealed information about the number of bots on the platform and threatened to pull out of the deal if the company did not provide additional information on the matter.

Musk has said that he wants to make Twitter better than ever.

Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated, Musk said in a statement on the deal. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.

Musk wrote in a recent SEC filing that he had invested in Twitter because he believes 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.

Twitter has extraordinary potential, he added. I will unlock it.

Musk held an all-staff meeting with Twitter employees last week and said he would allow a wide range of views on the platform, including content that could be described as extreme but was lawful, Bloomberg reported.

Theres freedom of speech and freedom of reach, he said. I think people should be allowed to say pretty outrageous things that are in the bounds of the law but that dont get amplified and dont get a ton of reach.

Musk also said he would ban remote working for Twitter employees if he assumes control of the company. He recently began enforcing a similar ban at Tesla.
Only excellent contributors at Twitter would be allowed to work from home for cause, with exemptions having to receive personal approval from Musk himself.

Welp. Federalize social media. These platforms have too much power and influence to be owned by billionaires with conflicts of interest.

Wonder how many engineers theyll lose immediately

Isn't the problem that Musk threw a bitch fit and no longer wants to pay the 44B he initially offered?

This is the weirdest game of chicken

Mearcstapa posted...

Isn't the problem that Musk threw a bitch fit and no longer wants to pay the 44B he initially offered?

Twitter conceded to him on his complaint so negotiations continued

This Twitter deal is such a wild ride and I'm loving every moment of it lol. I hope that trash website nosedives in a dumpster soon

Literally declaring he's going to increase employee workload and also worsen their QoL by banning remote work.
Stellar leadership. I'm sure morale is already off to a good start.

TheHoldSteady posted...

Welp. Federalize social media. These platforms have too much power and influence to be owned by billionaires with conflicts of interest.

Doesn't Mastodon already do that?

Mearcstapa posted...

Isn't the problem that Musk threw a bitch fit and no longer wants to pay the 44B he initially offered?

Rich people can do whatever they want and simps will still bow to them.

Mearcstapa posted...

Isn't the problem that Musk threw a bitch fit and no longer wants to pay the 44B he initially offered?

I thought so too.

NeonOctopus posted...

This Twitter deal is such a wild ride and I'm loving every moment of it lol.

not so much when donald trump is back on there.

They're just doing this to fuck with him right?

I take solace in knowing that he lost a third of his wealth on this.

And Twitter runs at a loss so

kingdrake2 posted...

not so much when donald trump is back on there.

Ive really enjoyed not reflexively checking my phone to see what catastrophe he caused overnight.