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Elon Musk has proposed once again to buy Twitter for $54.20 a share.
The news that Musk is offering to carry on with the $44 billion buyout was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk made the proposal in a letter to the tech giant on Monday.
The New York Stock Exchange temporarily halted trading in Twitter stock twice Tuesday, first because of a big price move and the second time for a news event, presumably the announcement of Musk's renewed offer.
While the per share offer price on this latest proposal remains the same as the original offer, it’s unclear if Musk has made other term changes or if Twitter would reject it. According to other reports, a deal could be reached this week.
The stock closed at $52.00/share Tuesday, indicating market uncertainty around the $54.20 offer.
After Musk informed Twitter of plans to terminate the original agreement in July, Twitter sued. A trial has been expected in Delaware Chancery Court on Oct. 17.
With the proposition of a buyout on the table again, it revives the question of whether Musk might move Twitter from San Francisco to Central Texas.
He’s done so with some of his other companies. Tesla’s headquarters in southeast Travis County had its grand opening earlier this year and tunneling business The Boring Company moved to Pflugerville. At least two other Musk companies, SpaceX and Neuralink, have a Central Texas presence without being headquartered here.
Technology journalist Nilay Patel this afternoon voiced concerns that owning Twitter and Tesla together could be problematic for Musk, as his Tesla manufacturing facilities in Germany and China are both in countries that have disputes with Twitter over content moderation and censorship.
Telsa shares fell after the Twitter news became public, before rallying to close up, at $249.44.
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Popular
While searching for a place to live, Austin renters will face monthly rates of nearly $3,000, a recent guide from rental marketplace Dwellsy shows.
The median rent in August this year was $2,930, a more than 86% increase since August 2021. That’s $820 more than the nationwide median asking rent in August and puts Austin just below the Bay Area, Boston and New York for large cities with the most expensive asking rent.
“Within this group, Austin, TX stands out for the highest increases in asking rent, which has nearly doubled since this time last year,” the study notes.
Outside of those large cities, however, others are seeing even higher rent spikes. Metro areas that ranked above Austin in one-year increases include those like Kansas City, MO with a 112% change in rent since last August and Tucson, AZ with a 124% change.
The data reflects large apartment communities, single-family homes and 2-6 unit buildings.
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Remember that ticket you and hundreds of thousands of others bought to get into this year's Austin City Limits Music Festival in Zilker Park? Well it turns out it guarantees you a lot more than just music this year.
"By purchasing a ticket, you agree to submit to a full body pat down and magnetometer screening before entry," says the festival's website, which goes on to add, "Persons that refuse to comply with the search will be refused entry to the event."
It's all part of a safety and security plan festival organizers say they're working on 24/7 that changes every day.
"We work closely with the City of Austin to continually evaluate our security measures , both seen and unseen,to ensure the safety of everyone in the park," said one festival organizer.
It's an approach that's led to bans on everything from big bags to backpacks,and selfie sticks to explosives and firearms. But this year a less visible threat to the festival is also listed on their webpage.
"Safety is our highest priority at the ACL Festival," reads the website, "which includes public health."
While this year's website offers links to learn more about preventing a newer Monkeypox threat, Covid concerns continue.
"If you're unvaccinated, the CDC encourages you to bring and wear a mask," says the website which goes on to add, " ACL festival encourages all patrons and staff to look out for each other and to not attend the festival if they don't feel well."
While festival organizers tell us they'll be doing all they can to keep things safe and secure for the close to half a million festival goers expected at the park over two weekends, they're counting on you to do a little more than just enjoy the show.
"Remember:", says the website," You're the eyes and ears of the festival. If you see something suspicious, say something."
