Monday, September 25, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home News

Twitter shareholders to vote on Musk buy in September

AFPbyAFP
July 27, 2022, 8:30 am
in News, World News
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Twitter on Tuesday urged shareholders to endorse the $44 billion deal Elon Musk made to buy the online podium, setting a vote on the merger for September 13.

In this April 14, 2022 file photo illustration, a phone screen displays the Twitter account of Elon Musk with a photo of him shown in the background in Washington, DC. Twitter reported disappointing results on July 22, 2022, a miss that the social network attributed to “headwinds” including the uncertainty related to Elon Musk’s buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo. Twitter missed expectations with revenue of $1.18 billion, due to “advertising industry headwinds… as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk,” the firm reported. AFP

The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from the agreement, and a judge has called for a trial to begin in October.

“Twitter believes that Mr. Musk’s purported termination is invalid and wrongful, and the merger agreement remains in effect,” chief executive Parag Agrawal and board chairman Bret Taylor said in a copy of a letter to investors filed with the US Securities and Exchange Commission.

“Your vote at the special meeting is critical to our ability to complete the merger.”

Twitter shareholders were assured that they will be able to attend the meeting online, and vote remotely.

Twitter’s board unanimously recommended that shareholders vote in favor of Musk buying the company for $54.20 per share under the terms of a deal inked in April.

“We are committed to closing the merger on the price and terms agreed upon with Mr. Musk,” Tuesday’s letter said.

Twitter shares ended the formal trading day Tuesday at $39.34.

The company last week blamed disappointing quarterly earnings results on “headwinds,” including uncertainty imposed on the company by Musk’s chaotic buyout bid. 

The social giant reported that the number of “monetizable” daily active users—those who can be shown advertising—increased by 8.8 million to 237.8 million. 

Twitter’s results covered the period ending in June, and so don’t include Musk’s move in July to try to “terminate” the deal on the argument that the platform was not forthcoming about its tally of fake accounts.

The social media network has countered by saying Musk already agreed to the deal and can’t back out now.

A court in the eastern US state of Delaware agreed to a fast-track trial on whether to force the billionaire to complete the buyout.

Billions of dollars are at stake, but so is the future of Twitter, which Musk has said should allow any legal speech—an absolutist position that has sparked fears the network could be used to incite violence.

Tags: Elon MuskTwitter
ADVERTISEMENT
AFP

AFP

Related Posts

China walls in Scarborough

byVince Lopezand2 others
September 25, 2023, 12:50 am
0
8
China coast guard chases Pinoy fisherman in disputed waters

Philippine officials and lawmakers on Sunday denounced China’s installation of a floating barrier in the southeast portion of Bajo de...

Read more

China coast guard chases Pinoy fisherman in disputed waters

byAFP
September 25, 2023, 12:45 am
0
8
China coast guard chases Pinoy fisherman in disputed waters

South China Sea—Filipino fisherman Arnel Satam guns the motor of his tiny wooden boat as he makes a dash for...

Read more

Manila to UN: Keep SCS on rules regime

byRey E. Requejo
September 25, 2023, 12:40 am
0
8
Manila to UN: Keep SCS on rules regime

The Philippines made a plea before the United Nations General Assembly Saturday for the preservation of a rules-based global order...

Read more

Marcos: Give sari-sari store owners ayuda amid rice price cap

byVince Lopezand1 others
September 25, 2023, 12:35 am
0
8
DA: Deals with Vietnam, India for cheap rice start

President Ferdinand Marcos Jr. has ordered the Department of Social Welfare and Development (DSWD) to also distribute cash assistance to...

Read more

3 senators push for gradual POGO phaseout

byMacon Ramos-Aranetaand1 others
September 25, 2023, 12:30 am
0
8
POGO operators plan to hire more Filipinos

Three senators who signed the committee report seeking a total ban on Philippine Overseas Gaming Operators (POGOs) said they will...

Read more

Romualdez: Gov’t service caravan to reach all provinces

byRio N. Arajaand1 others
September 25, 2023, 12:25 am
0
8
Bagong Pilipinas service fair begins

All provinces will be reached by President Ferdinand Marcos Jr.’s Bagong Pilipinas Serbisyo Fair (BPSF)—the country’s biggest service caravan—to serve...

Read more

Print Edition

View More

Recent Posts

  • China walls in Scarborough
  • China coast guard chases Pinoy fisherman in disputed waters
  • Manila to UN: Keep SCS on rules regime
  • Marcos: Give sari-sari store owners ayuda amid rice price cap
  • 3 senators push for gradual POGO phaseout
  • Romualdez: Gov’t service caravan to reach all provinces
  • Makati laments rejection of health transfer plan
  • Tougher sanctions on agri smugglers

Advertisement

Latest News

Romualdez: Gov’t service caravan to reach all provinces

byRio N. Arajaand1 others
September 25, 2023, 12:25 am
0
8
Bagong Pilipinas service fair begins

All provinces will be reached by President Ferdinand Marcos Jr.’s Bagong Pilipinas Serbisyo Fair (BPSF)—the country’s biggest service caravan—to serve...

Read more

Makati laments rejection of health transfer plan

byManila Standard
September 25, 2023, 12:20 am
0
8
Southwoods nails Seniors’ Fil golf crown

Makati on Sunday bewailed Taguig City’s decision to reject its proposal for a "smooth transfer" of health facilities and services...

Read more

Tougher sanctions on agri smugglers

byManila Standard
September 25, 2023, 12:15 am
0
8
Tougher sanctions on agri smugglers

Are the days of smugglers and hoarders of agricultural crops numbered? That’s a likely possibility with the recent move of...

Read more

Ang Bayani, bow!

byLito Banayo
September 25, 2023, 12:10 am
0
8
A crisis president

"BF was the epitome of efficiency and effective leadership, armed with vision and political will, qualities which if appreciated by...

Read more

Understanding how to fight text scammers

byOrlando Oxales
September 25, 2023, 12:05 am
0
8
Denying Villafuerte justice

"Be vigilant, be informed, and be proactive for a safer digital environment" Text scammers are still on the prowl despite...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App