Good Morning DC,
The twitter stakes have never been higher. And I am not talking about euphemisms. Elon Musk has made an all-or-nothing offer to turn the company 100% private for $54.20 per share in cash. Elon is the man. If this does not work out, he will cash out his shares and then, in the most likely scenario, start a brand new social media to rival Twitter, whose shares at that point would go through the floor.
Whatever happens, what we have learned about Twitter in the past days is precisely what we all thought, and Elon now is on the inside to confirm that “the company will neither thrive nor serve this societal imperative in its current form.”
“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.
However, since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Twitter has extraordinary potential. I will unlock it.”
Best and final:
- I am not playing the back-and-forth game.
- I have moved straight to the end.
- It’s a high price and your shareholders will love it.
- 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.
—This is not a threat, it’s simply not a good investment without the changes that need to be made.
—And those changes won’t happen without taking the company private.
Yours truly, Elon Musk.
Your top news stories of today are below.
THE WHITE HOUSE
Biden is on the road again, heading to Greensboro, North Carolina.
He is scheduled to visit The Harold L. Martin Sr. Engineering Research & Innovation Complex and meet faculty and students studying robotics and cybersecurity at North Carolina Agricultural and Technical State University.
Greensboro, according to the White House, “is an example of a regional manufacturing ecosystem that the President’s agenda seeks to build across America to create a globally competitive manufacturing industry that also expands the middle class.”
Biden will talk about his efforts to rebuild supply chains. In his remarks, Biden will highlight provisions of the Bipartisan Innovation Act key to retaining and strengthening innovation and manufacturing capacity and investing in STEM education and equity.
From North Carolina, the President will go directly to Camp David, where he will spend Good Friday and the rest of the Easter weekend.
DIGITAL ASSETS
Following Elon Musk’s announcement of his offer to buy Twitter, Dogecoin rose 5.4%
TODAY’S CRYPTO PRICES
Bitcoin (BTC):$40,714.47
Ether (ETH):$3,058.74
SOL:$103.67
LUNA: $85.16
FOREIGN AFFAIRS
President Biden has authorized an additional $800 million in military aid for Ukraine.
The UN warns that refugees attempting to flee Ukraine are being targeted by human traffickers.
Across the pond, the premiership of Boris Johnson finds itself again in stormy waters. Lord David Wolfson, his justice minister, resigned on Wednesday evening. Lord Wolfson called Johnson to resign over the partygate scandal and breaking lockdown rules. He said it would be “inconsistent with the rule of law for that conduct to pass with constitutional impunity.”
Asylum seekers in the UK who crossed the English Channel illegally will be sent to Rwanda for processing in a five-year deal Home Secretary Priti Patel will sign today in Rwanda.
If she wins the French presidency against Macron, Marine Le Pen has a plan for a new partnership with post-Brexit Britain.
Finally, an icy comet is moving closer to earth and, according to NASA, is the biggest they’ve ever identified.
What else can hit us?
And that’s a wrap for this Thursday morning, April 14, 2022. Good Morning DC will be back tomorrow to bring you the latest first.
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