The Hill’s 12:30 Report: Elon Musk makes offer to buy Twitter

by Cate Martel - 04/14/22 12:31 PM ET

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–> A midday take on what’s happening in politics and how to have a sense of humor about it.*

*Ha. Haha. Hahah. Sniff. Haha. Sniff. Ha–breaks down crying hysterically.

NEWS OF THE MORNING

Is that for here or to-go?:

Tesla CEO Elon Musk is offering to buy Twitter for $43 billion — or $54.20 a share.

Why?: Musk has criticized Twitter for what he believes is a lack of free speech.

Musk wrote: “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.” Read Musk’s full offer letter to Twitter Chairman Bret Taylor: https://bit.ly/3JF73If

Is the price per share competitive?: “That offer is a 54 percent premium above the price for Twitter shares on the day before Musk started investing in the company and an 8 percent premium above it the day before his investment was publicly announced.”

Musk *obviously* tweeted the news: “I made an offer,” Musk tweeted, linking to the offer. The full tweet — it’s the Wild, Wild West in the replies: https://bit.ly/3ElhD6b

What portion of Twitter does Musk currently own? About 9 percent: “Musk revealed in regulatory filings over recent weeks that he’d been buying shares in almost daily batches starting Jan. 31, ending up with a stake of about 9%,” according to The Associated Press’s Michelle Chapman. “Only Vanguard Group’s suite of mutual funds and ETFs controls more Twitter shares.” https://bit.ly/3Odnwqw

REACTIONS:
One analyst doesn’t think Twitter can turn down the offer: Wedbush Securities’ Dan Ives called into CNBC’s “Squawk Box,” explaining why he thinks Twitter cannot reject the offer. “There’s really no way that Twitter in my opinion could reject this,” Ives said. Watch Ives’s reasoning: https://bit.ly/3KIeksh

^ A differing opinion: Axios’s Dan Primack tweeted, “Heard someone on CNBC say Twitter board would have to accept this offer. No it doesn’t. It may, but the shares were higher just last October. And there are tons of blanks that haven’t been filled in here.” https://bit.ly/3vg4cQV

How The Washington Post framed the offer: “Elon Musk launches hostile takeover bid of Twitter.” https://wapo.st/3rpPYf4

Vox explains how seriously we should take this: “Is Elon Musk really going to buy Twitter for $43 billion?” Vox’s Peter Kafka writes. “Maybe?” https://bit.ly/3jA0f4a

It’s Thursday. I’m Cate Martel with a quick recap of the morning and what’s coming up. Send comments, story ideas and events for our radar to cmartel@digital-release.thehill.com — and follow along on Twitter @CateMartel and Facebook.

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LATEST WITH IMMIGRATION

Texas’ governor sent a bus of migrants to DC:

Via The Hill’s Alex Gangitano, “Temperatures in the immigration fight between Republicans and President Biden rose Wednesday after Texas Gov. Greg Abbott sent a bus of migrants to Washington in an effort to bring issues at the southern border to the White House’s doorstep.” https://bit.ly/3vmGimZ

Reaction from White House press secretary Jen Psaki: Psaki called it a “publicity stunt.”

Fox News aired footage of the migrants arriving: https://bit.ly/37RxNrC

Back story: “Abbott directed his state’s Division of Emergency Management to bring migrants in Texas to the nation’s capital last week in response to the Biden administration’s move to wind down Title 42, a sweeping border restriction policy implemented during the COVID-19 pandemic.”

The full story: https://bit.ly/3vmGimZ

IN CONGRESS

Feeling the pressure from all sides:

“The question about what to do with an estimated $1.6 trillion in student loan debt is a growing headache for Democrats at a time when families are struggling with higher costs but centrist Democrats led by Sen. Joe Manchin (W.Va.) don’t want to further fuel inflation.” https://bit.ly/3uHxXuR

And in the middle of that fight: President Biden

An interesting dynamic: “But while there is strong reluctance in the Senate Democratic Caucus to forgive up to $50,000 in student debt, moderate Democrats are leery about bashing the idea publicly because they don’t want to run afoul of the party’s base.”

How this could play out: https://bit.ly/3uHxXuR

Stephen Miller has some things to say:

“Stephen Miller, who served as a top aide to President Donald Trump, will appear Thursday before the congressional committee investigating the Jan. 6 insurrection, according to two people familiar with the matter.” https://bit.ly/37R9gTB

Keep in mind: “Miller was a senior adviser for policy during the Trump administration and a central figure in many of the Republican’s policy decisions. He had resisted previous efforts by the committee, filing a lawsuit last month seeking to quash a committee subpoena for his phone records.”

What we know, via The Associated Press: https://bit.ly/37R9gTB

IN WASHINGTON, D.C.

Help find Pablo and Bruno!:

Via NBC Washington’s Briana Trujillo, “Multiple suspects are wanted for shooting two men, stealing two puppies at gunpoint and committing an armed robbery all within an hour Wednesday in D.C.” https://bit.ly/3Egi9SM

The first puppy: @AbbySev tweeted at Popville: “our puppy Pablo was robbed from us at gunpoint outside CVS on 8th Street this afternoon. He has a blue eye and is 11 weeks. The robbers will likely try to sell him; please keep an eye out on Craigslist and Facebook. We are devastated.” Here’s a photo of Pablo: https://bit.ly/3OanPT8

DC Police Department tweeted about the second dog: “Help us locate ‘Bruno’, a 1 year-old male French Bulldog, wearing a black collar and black leash who was taken in an Armed Robbery (Gun) offense that occurred in the 5400 block of Kansas Avenue, Northwest.” Photo of Bruno: https://bit.ly/3rqf39A

LATEST WITH COVID-19

CASE NUMBERS:

Coronavirus cases in the U.S.: 80,514,666

U.S. death toll: 987,560

Breakdown of the numbers: https://cnn.it/2UAgW3y

VACCINATION NUMBERS:

Total number of vaccinations administered in the U.S.: 567 million shots have been given.

Seven-day average of doses administered: An average of 87,202 doses

For context: The U.S. population is roughly 331 million.

Breakdown of the numbers: https://bloom.bg/3iVTPLH

NOTABLE TWEETS:

I love New Yorkers:

Bloomberg’s Natalie Wong tweeted a video: “Zack Tahhan, 21, describes catching the Brooklyn subway shooter in east village.” Watch — the crowd cheers after his story: https://bit.ly/3EcHMEd

ON TAP:

The House and Senate are out. President Biden is in North Carolina and then heads to Camp David. Vice President Harris is in Washington, D.C.

10 a.m. EDT: President Biden received the President’s Daily Brief.

10:40 a.m. EDT: President Biden left for North Carolina.

1:05 p.m. EDT: President Biden meets with faculty and students studying robotics and cybersecurity in Greensboro, N.C.

3:30 p.m. EDT: President Biden leaves North Carolina and travels to Camp David.

WHAT TO WATCH:

11:30 a.m. EDT: White House principal deputy press secretary Karine Jean-Pierre spoke with reporters aboard Air Force One. Livestream: https://bit.ly/3Ecs63I

2:15 p.m. EDT: President Biden delivers remarks on rebuilding supply chains and economic renewal. Livestream: https://bit.ly/3uGdWok

6:10 p.m. EDT: Vice President Harris and second gentleman Doug Emhoff speak at the virtual White House Passover celebration. Livestream: https://bit.ly/3uJ2Ejr

IN LIGHTER NEWS: