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Twitter accepts Elon Musk's proposal to buy company at $44bn: Deal expected to close within weeks after months of legal back and forth

elon musk twitter
Twitter has accepted Elon Musk's proposal to buy the company for $44billion, with a deal expected to close within weeks.

A spokesman for the company told DailyMail.com on Tuesday afternoon: 'We received the letter from the Musk parties which they have filed with the SEC.

'The intention of the Company is to close the transaction at $54.20 per share.'

Regulatory filings on Tuesday revealed that Musk's attorneys sent Twitter a letter confirming that he planned to buy the company at the original price he proposed - $44billion.

Comment: Well, this will be nothing if not entertaining:

Elon Musk promises to turn Twitter into 'everything app' called X
Elon Musk plans to turn Twitter into an "everything app" after reviving plans to buy the social media company for $44bn (£38bn).

After a u-turn over his takeover, the Tesla billionaire said: "Buying Twitter is an accelerant to creating X, the everything app."

Mr Musk had been trying to back out of a deal to buy the social media business but announced a surprise reversal on Tuesday, saying he would purchase the company at $54.20 per share. He was facing a court battle as Twitter pressed him to go through with the takeover.

Mr Musk, the world's richest man who is worth $220bn, gave no details of what his "X" app would look like, but he claimed buying Twitter "accelerates X by three to five years, but I could be wrong".

He has previously expressed an interest in creating a "super app" similar to China's WeChat.

WeChat, which is used by more than 1 billion people in China, combines instant messaging, video calls and mobile payments.

Mr Musk told Twitter staff earlier this year: "Think of it like WeChat in China, which is great now, but there's no WeChat equivalent outside of China. There's a real opportunity to create that."

He added: "You basically live on WeChat in China because it's so helpful, so useful to daily life. I think if we achieve that or come even close to that with Twitter, that would be a success."

In text messages between Mr Musk, his friends and advisers that were revealed as part of his court battle with Twitter, he revealed some details of his thinking about social media.

In one note to his brother, Kimbal, Mr Musk said: "I have an idea for a blockchain social media system that does both payments and short texts/links like Twitter. You have to pay a tiny amount to register your message on the chain, which will cut out the vast majority of spam and bots."

Blockchain is the digital ledger technology used by Bitcoin, which could be used for payments.

He later said his "plan B" is a "blockchain-based version of Twitter" where users would "pay maybe 0.1 Doge per comment". Dogecoin is a joke cryptocurrency that Mr Musk has promoted in the past.

Later, however, Mr Musk said in a text to his main banker that a "blockchain-based version of Twitter isn't possible" because it would be too slow.

In other messages, he appears sympathetic to the idea of introducing paid-for membership tiers.

The billionaire added his vision for Twitter was "not some right wing nuthouse" but that it would be "broadly inclusive as possible".

Twitter has said it plans to go through with the sale to Mr Musk. Twitter shares jumped 21pc on news that the deal was back on. Shares in Tesla, his electric car company, climbed 2pc.

In July, Mr Musk attempted to tear up his takeover offer, claiming Twitter management's figures for the number of fake accounts and "bots" on the social network were misleadingly low.

Twitter subsequently sued him in the Delaware Chancery Court to force him to go through with the agreement. The trial was due to begin on October 17.

Analysts said the billionaire had come to the conclusion that he could lose his court battle against Twitter. Dan Ives, an analyst at Wedbush Securities, said: "We continue to believe Musk saw the writing on the wall and knew his chances of a victory in Delaware were slim to none with the best path accepting the current deal and move forward."

Mr Musk's other companies include rocket venture SpaceX and Starlink, the satellite broadband company, as well as his electric car company Tesla.



Heart - Black

Texas 18-year-old broke into hospital nursery, said 'die' as he strangled and shook newborn babies until they turned blue

Marcus Dewayne McCowan Jr.
© Ector County Sheriff
Marcus Dewayne McCowan Jr.
An 18-year-old in Texas allegedly forced his way into a hospital nursery and assaulted two newborn babies and several staff members.

Marcus Dewayne McCowan Jr. was taken into custody on Monday and charged with a slew of felonies, including two counts of attempted first-degree capital murder, jail records reviewed by Law&Crime show.

According to a press release from the Odessa Police Department, officers at approximately 6:30 p.m. on Oct. 3 responded to multiple 911 calls about a disturbance at Odessa Regional Medical Center in the 500 block of East 6th Street. Staffers at the hospital told police that a man had "forced his way into the Nursery and began assaulting patients and staff," the release states.

First responders reportedly arrived on the scene after a therapist was able to temporarily subdue McCowan, but upon making contact with the suspect, police said he was "aggressive towards officers, which led to a physical altercation." During the altercation with multiple officers, McCowan allegedly "attempted to take one of their firearms from its holster" but was unsuccessful.

A copy of the probable cause affidavit obtained by nearby Midland, Texas ABC affiliate KMID provided additional details about what witnesses told investigators they saw prior to the arrival of police.

McCowan was reportedly at the hospital because his girlfriend was in labor; he was alleged acting "odd and unreasonable" prior to the alleged attack. He then allegedly grabbed the arm of a nurse, made an "unintelligible statement," and was asked to leave. Instead, he reportedly started "running back and forth in the hall."

Target

Russia uses Iran-made 'kamikaze drones' near Kyiv, military barracks ablaze

barracks
© Twitter
Russain drones struck the 72nd Mechanized Brigade barracks in Bila Tserkva.
Share this article Iran-made "kamikaze drones" have bombarded a city near Ukraine's capital of Kyiv, leaving one person injured, according to a regional governor.


Comment: Russia 'bombarded a city' and injured just one person? Ukraine's shelling of residential streets in what is now Russian territory regularly results in much worse casualities.

Russia hasn't sacrificed its own men to preserve Ukrainian civilian life to suddenly turn around and have flagrant disregard for human life with US-style merciless carpet bombing. Instead, it's more likely, as seen in the picture below, that Russian strikes have been as precise as possible, and Rusisa continues in its attempt to shield civilians from its special operation in Ukraine:


Comment: See also: Unpacking the Ukraine 'Game Change': Is a major conflict inevitable?


Cow

Common sense prevails: Customers deserting 'Beyond Meat' brand fake meat

fake meat left on empty grocery shelves
© Davey /@baldrowdy/Twitter
"No matter how empty the shelves are of real meat people still won't eat the fake cr*p." - January 17, 2022
Beyond Meat, the company that makes "meat substitutes," is in trouble. According to Bloomberg, the company's stock has lost 77% of its value over the last year. In fact, all plant-based meat substitutes are losing customer share. Sales of refrigerated meat alternatives at retailers are down 10.5% by volume for the 52 weeks that ended Sept. 4, according to Information Resources, Inc.

One reason for this is their price. With food prices going through the roof, a lot fewer customers are willing to pay a premium for fake meat when the real thing isn't that much more expensive.

Comment: Science backing up common sense. GM Watch reports (footnotes available at link):
The Impossible Burger is a plant-based burger, the key ingredient of which is a protein called soy leghemoglobin (SLH for short), derived from genetically modified (GM) yeast.

[T]he results of a rat feeding study commissioned by Impossible Foods and carried out with SLH suggest that the burger may not be safe to eat.

SLH is the substance that gives the burger its meaty taste and makes it appear to bleed like meat when cut. The US Food and Drug Administration (FDA) initially refused to sign off on the safety of SLH when first approached by the company. The rat feeding study results suggest that the agency's concerns were justified. Rats fed the GM yeast-derived SLH developed unexplained changes in weight gain, changes in the blood that can indicate the onset of inflammation or kidney disease, and possible signs of anaemia.

Potentially adverse effects in SLH-fed rats

In light of these limitations, it is remarkable that the SLH-fed rats did show a large number of statistically significant potentially adverse effects, compared with the control group - for example:
  • unexplained transient decrease in body weight gain
  • increase in food consumption without weight gain
  • changes in blood chemistry
  • decreased reticulocyte (immature red blood cell) count (this can be a sign of anemia and/or damage to the bone marrow where red blood cells are produced)
  • decreased blood clotting ability
  • decreased blood levels of alkaline phosphatase (can indicate malnutrition and/or celiac disease)
  • increased blood albumin (can indicate acute infection or damage to tissues) and potassium values (can indicate kidney disease)
  • decreased blood glucose (low blood sugar) and chloride (can indicate kidney problems)
  • increased blood globulin values (common in inflammatory disease and cancer).[3]
The fact that these changes were seen in spite of the statistical weaknesses of the study (stemming from the short duration and low number of animals in each group) gives particular reason for concern.

Reproductive changes in SLH-fed females?

In the study, apparent disruptions in the reproductive cycle were found in some groups of females fed SLH. In normal healthy rats, the uterus fills up with fluid during the proestrus phase of the cycle, in the run-up to the fertile and sexually receptive phase (estrus). In the SLH-fed rats, significantly fewer "fluid filled" uteri were seen. This correlated with decreased uterus weight, as might be expected.[3]

[...]

In 2019 Impossible Foods introduced a new recipe for its Impossible Burger. In addition to GMO-derived SLH, the burger now contains another GMO ingredient: protein from herbicide-tolerant soy.[6] The company introduced soy protein to replace wheat protein in order to improve the texture and to avoid gluten, the protein in wheat that some people cannot tolerate.[7]

As a result, Impossible Burger Version 2.0 can contain residues of the "probable carcinogen" glyphosate,[8] the main ingredient of the herbicide used on GM soy.

Testing by Health Research Institute Laboratories, commissioned by the advocacy group Moms Across America, found glyphosate at a level of 11.3 ppb. The level was 11 times higher than the Beyond Meat burger, another plant-based burger that is made from non-GMO ingredients.[9] (However, Beyond Meat's crashing stock suggests that the hype over any fake meat product is misplaced.)



Footprints

Delusional US sets free over 300,000 illegal migrants, expects tracking devices will actually work

migrants board bus el paso texas
© Getty Images / Joe Raedle
Migrants from Venezuela are shown making their way to a Greyhound Bus Station last month in El Paso, Texas, for transportation further into the US interior.
Biden administration has reportedly more than tripled the number of migrants released in the US with cell-phone and GPS monitoring

President Joe Biden's administration has reportedly vastly expanded use of a program that sets loose illegal aliens into the US, who are then monitored via phones and tracking devices while their immigration applications are being processed.

There were 316,700 migrants enrolled in the government's so-called Alternatives to Detention (ATD) program as of September 24, up 266% from when Biden took office in January 2021, according to US Department of Homeland Security (DHS) data. The figures, which were obtained by a data-gathering group at Syracuse University and first reported by the Daily Caller, showed that the number of aliens enrolled in the ATD program had never before exceeded 300,000 until last month and had never topped 200,000 until last March.

Comment: And why have the Democrats allowed this? but . . . . So much for the will of the people.


Rocket

Ukraine shells hotel - Kherson officials

Kherson, hotel bombing, Ukraine
© Telegram/mchskherson
Ukrainian forces have carried out an overnight attack on a hotel in the center of Kherson, local civil defense and emergency services wrote on their joint Telegram channel on Wednesday.

At least one person was killed in the shelling, and a number of residential buildings as well as a hotel, sustained damage, a local law enforcement officer told RIA Novosti news agency.

He added that the attack on the city was supposedly carried out using three HIMARS rockets, but the consequences of the shelling are still being clarified by Russia's Investigative Committee. Emergency services continue working at the scene to clear the rubble.

Ukrainian forces have also continued to carry out attacks on other residential areas in Russia. The Mayor of Donetsk, Alexei Kulemzin, reported on Wednesday that at least three civilians had been killed in strikes on the city over the past two days.

Binoculars

Bulgaria sees 'no real benefit' in supporting Ukraine's NATO drive

Nikolay Milkov
© AFP / Bryan R. Smith
Bulgaria’s Minister for Foreign Affairs Nikolay Milkov addresses the 77th session of the UN General Assembly on September 24, 2022.
A joint statement issued by the leaders of several eastern and central European countries in support of Ukraine's NATO bid carries no actual weight and provides "no real benefit," Bulgarian Foreign Minister Nikolay Milkov said Wednesday. The remarks come as the country refused to join the pro-Ukraine declaration.

"We can support this declaration, from which nothing would follow, because it does not mean fast-track accession [to NATO membership for Ukraine] and, if we do not support it, nothing would happen either," Milkov said, as quoted by state-owned news agency BTA. "This is a political statement by a group of countries."

The remark echoed the stance of the country's President Rumen Radev, who explained his refusal to join the declaration by the drastic changes in the "security environment" that have occurred since the time when Ukraine first announced its aspirations to join the US-led bloc. He stressed that a "decision on Ukraine's accession to NATO should be made only after the development of clear parameters for the peaceful settlement of the conflict between Russia and Ukraine," which would last and be acceptable to both sides.

Burka

Iranian protests broaden as Raisi calls for national unity

hijab, headscarves, Iranian students, Iran, protests, Mahsa Amini

Iranian students remove their headscarves in support of protests over the death of Mahsa Amini.
Iranians have taken to the streets for a 17th consecutive day in anti-government protests triggered by the death in custody of a young woman as President Ebrahim Raisi appealed for unity.

Universities and high schools joined the protests on October 4, highlighting the broadening of demonstrations that have followed the death of 22-year-old Mahsa Amini while in custody for allegedly improperly wearing a hijab.

Videos posted on social media showed unrest in the cities of Tehran, Karaj, Shiraz, and Isfahan, with demonstrators shouting slogans such as "Death to the dictator."

During a session of parliament, Raisi acknowledged "weaknesses and shortcomings" in the country.

"Today the country's determination is aimed at cooperation to reduce people's problems," he told the session. "Unity and national integrity are necessities that render our enemy hopeless."

At the same time he echoed other officials, including Supreme Leader Ayatollah Ali Khamenei, in blaming the United States and Israel for inciting the unrest.

Comment: See also:


Wolf

Will French officials' turtlenecks save the country from crisis?

Emmanuel Macron
© Ludovic MARIN / POOL / AFP
French President Emmanuel Macron.
Has anyone else noticed the number of Western officials who have gone out of their way lately to model for - or lecture to - their constituents on how to not be a selfish, irresponsible jerk amid various crises that these same officials had a role in promoting or exacerbating?

Here in France, as Paris Fashion Week was in full-swing last week, top French officials were modeling the new Fall/Winter 2022 Virtue-Signaling Collection. Economy Minister Bruno Le Maire showed up indoors amid 20C weather in a turtleneck. "You will no longer see me wearing a tie, I'll wear a turtleneck instead," Le Maire said. "And I think that will be very good, it will allow us to save energy, to show proof of sobriety." If someone showed up at work in ski attire amid summertime weather claiming definitive proof of "sobriety" - energy-related or otherwise - it might be time for an intervention.

Not to be outdone, French President Emmanuel Macron subsequently donned a turtleneck for a public address. French Prime Minister Elizabeth Borne and Energy Minister Agnès Pannier-Runacher also showed up at yet another indoor event wearing down jackets.

Western leaders seem more focused on coercing and cajoling their citizens into austerity than on fixing what they've broken. The latter would require courage - specifically, opting out of what Brussels' brand of self-harming "solidarity".

Russian Flag

International Boxing Association votes to overturn ban on boxers from Russia and Belarus

russia boxer
© Harry Murphy / Sportsfile via Getty Images
The International Boxing Association (IBA) has voted to overturn a ban imposed on boxers from Russia and Belarus, the organization has announced.

The IBA, which governs amateur boxing, joined numerous international sporting federations in imposing sanctions on sportspeople from both Russia and Belarus following the beginning of Russia's military operation Ukraine earlier this year.

However, the IBA stated on Wednesday that it has reversed the suspension, adding that it believed politics and sport should not be mixed.

It also stated that boxers from both countries will be fully entitled to compete under their own national flags and anthems.