Billionaire Elon Musk has offered to buy Twitter for about $41 billion, just days after rejecting a seat on the social media company's board.
Register now for FREE unlimited access to Reuters.com"Musk’s offer of $54.20 per share is a punchy 38% higher than when he disclosed his initial stake but is still 30% below the share price highs of last year. This opens a battle for control between new CEO Parag Agrawal, who is trying to engineer a company turnaround, and Musk's view that Twitter will 'neither thrive nor serve societal imperative in its current form’.
"Twitter has also come under increasing criticism for its arbitrary censoring of accounts that don’t adopt a particular political narrative, as well as the arbitrary nature of how it verifies users, and deals with fake accounts, over genuine users. "From customer service to the monetisation of its user base, Twitter has been a serial underperformer for some time. Maybe a shaking up of the status quo wouldn't be a bad thing!
"Whatever your feelings on Musk, he would certainly shake things up, with the only question as to whether he would make things worse or improve them."Reporting by Samuel Indyk; Compiled by Saikat ChatterjeeSign up to our tech newsletter to get the latest news and trends in the global technology industry.
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Leadership Lessons From Elon Musk And His Tweet About TwitterI am a crisis management/communication expert, consultant and bestselling author of the award-winning Crisis Ahead: 101 Ways to Prepare for and Bounce Back from Disasters, Scandals, and Other Emergencies (Nicholas Brealey). Crisis Ahead was rated one of best new crisis management books to read in 2020 and 2021 and — one of the best crisis management books of all time — by BookAuthority.org. My advice and observations are based on my extensive experience helping companies, organizations, and individuals prevent, manage and recover from a variety of crisis situations. I'm the former CEO of two trade associations, a PR consultant to hundreds of clients, press secretary for Democratic and Republican members of Congress and political candidates and a consultant for Ogilvy Public Relations and other PR and advertising agencies.
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