") no-repeat center center;background-size:10px 16px;content:' '}@media(min-width:768px){.gBkjJh::before{display:none}}.jiCqOZ{min-height:377px;clear:both}@media(min-width:1000px){.gdPcRA .taboola{display:none}}.jImJId .tp-container-inner,.jImJId .sc-1suqprf-0{position:relative;box-shadow:0 -22px 16px 22px rgba(255,255,255,0.95)}.jImJId.closed{display:none}.eZumoJ{position:fixed;top:0;left:0;z-index:2147483644;background:rgba(0,0,0,0.5);cursor:pointer;opacity:0;transition:opacity 300ms ease-in-out}.eZumoJ.overlay-background--open{width:100vw;height:100vh;opacity:1}.dRVLpc{--trans:300ms ease-in-out;position:fixed;top:0;left:0;z-index:2147483645;width:100vw;height:100vh;opacity:0;pointer-events:none;transform:translateY(-24px);transform-origin:top center;transition:transform var(--trans),opacity var(--trans)}.dRVLpc.overlay--open{opacity:1;transform:translateY(0);transition-delay:150ms}.dRVLpc.overlay--open>:first-child{pointer-events:auto}.cWTSTp .sc-17yxc4y-0{display:none}.cWTSTp:hover .sc-17yxc4y-0,.cWTSTp.bookmark-button-saved .sc-17yxc4y-0{display:block}.cWTSTp:hover .sc-17yxc4y-1,.cWTSTp.bookmark-button-saved .sc-17yxc4y-1{display:none}.cWTSTp.bookmark-button-saved .sc-17yxc4y-0{display:block}.cWTSTp.bookmark-button-saved .sc-17yxc4y-1{display:none}.cWTSTp.bookmark-button-saved:hover .sc-17yxc4y-0{display:none}.cWTSTp.bookmark-button-saved:hover .sc-17yxc4y-1{display:block}.czGZzO{--margin-x:12px;--modal-width:calc(100% - (var(--margin-x) * 2));--modal-max-width:351px;--padding:60px 16px 42px;--line-height:1.25;position:fixed;top:50%;left:50%;overflow:auto;width:var(--modal-width);max-width:var(--modal-max-width);max-height:100vh;box-sizing:border-box;padding:var(--padding);background-color:#eaf2f2;box-shadow:0 1px 1px rgba(0,0,0,0.5);line-height:var(--line-height);text-align:center;transform:translate(-50%,-50%)}@media(min-width:768px){.czGZzO{--modal-width:600px;--modal-max-width:none;--padding:72px 80px 64px;--line-height:1.2}}@media(min-width:1000px){.czGZzO{--modal-width:635px}}.kYjygs{--close-button-margin:15px;position:absolute;top:var(--close-button-margin);right:var(--close-button-margin);padding:10px}@media(min-width:768px){.kYjygs{--close-button-margin:24px}}.PPpcm{display:block;width:100%;max-width:437px;margin:0 0 20px}@media(min-width:768px){.PPpcm{margin-bottom:18px}}.cOYrQW{margin:0 0 30px;font:bold 26px/1.15 'Indy Serif','Indy Serif Fallback',serif}@media(min-width:768px){.cOYrQW{font:bold 28px/1.15 'Indy Serif','Indy Serif Fallback',serif}}.epOOte{display:block;width:100%;padding:0;margin:0 0 30px;font:normal 16px/1.44 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.epOOte{font:normal 20px/1.44 'Indy Sans','Indy Sans Fallback',sans-serif}}.fDiLAE{display:block;margin-top:30px;color:#222;font:normal 16px/normal 'Indy Sans','Indy Sans Fallback',sans-serif}.lcFPQp{padding:0}.dzPSOH{display:inline-block;width:32px;height:32px;color:#70a5a7}.dzPSOH button svg{width:32px;height:32px;margin:0}:not(.subscribed) .dzPSOH{margin:0 12px 0 0}.subscribed .dzPSOH{margin:0 0 16px 0}.lflWOn{display:block}@media(min-width:768px){.lflWOn{display:block}}.lflWOn:last-child button{margin-right:0}.lflWOn path{stroke:#fff}.jWuEbG button{margin-right:12px}@media(min-width:768px){.jWuEbG{display:none}.jWuEbG button{margin-right:12px}}.hgDTSg{display:flex;position:relative;justify-content:center}@media(min-width:768px){.hgDTSg{justify-content:flex-end;padding-top:12px;margin:0}}.hgDTSg svg{width:60%;height:60%;margin:20%;fill:#fff}.hgDTSg [type='facebook'] svg{width:100%;height:100%;margin:0}.hgDTSg amp-social-share{margin:0 6px;border-radius:50%;background:0;outline:0}.hgDTSg amp-social-share:first-of-type{margin-left:0}.hgDTSg amp-social-share:last-of-type{margin-right:0}@media(min-width:768px){.hgDTSg .share-mobile-only{display:none}}.hgDTSg .amp-social-share-bookmark svg{display:block;width:100%;height:100%;margin:0}.hgDTSg .amp-social-share-bookmark:hover{opacity:.85}.hgDTSg .amp-social-share-facebook{background:#627aac}.hgDTSg .amp-social-share-facebook:hover{background:#9cabcb}.hgDTSg .amp-social-share-twitter{--color:#4e4e4e;--color-alt:#919191;background:var(--color)}.hgDTSg .amp-social-share-twitter:hover{background:var(--color-alt)}.hgDTSg .amp-social-share-whatsapp{background:#25d366}.hgDTSg .amp-social-share-whatsapp:hover{background:#66e093}.hgDTSg .amp-social-share-whatsapp svg{width:70%;height:auto;margin:15%}.hgDTSg .amp-social-share-email{background:#ef4757}.hgDTSg .amp-social-share-email:hover{background:#f58992}.hgDTSg .amp-social-share-email svg path{stroke:#fff}.kdvWjb{display:flex}.sticky .kdvWjb{flex-direction:column}.bfkmcy{overflow:hidden;height:23px;margin-bottom:8px;border-bottom:0;clear:both}@media(min-width:768px){.bfkmcy{height:25px}}.fczuIa{display:inline-block;flex-shrink:0;margin:0 12px 0 0;font:bold 14px/normal 'Indy Sans','Indy Sans Fallback',sans-serif}.fczuIa::after{content:':'}.IOUwh{display:inline-block;margin-right:12px;margin-bottom:4px;color:#222;font:normal 14px/1.29 'Indy Sans','Indy Sans Fallback',sans-serif;text-decoration:underline}.IOUwh::first-letter {text-transform:capitalize}.izpdPv>p{margin:16px 0}.article-premium .izpdPv>p{line-height:27px}.izpdPv>h2{font-size:21px}.article-climate .izpdPv>h2{color:#ec1a2e}.article-sgi .izpdPv>h2{color:#ec1a2e}.izpdPv>p:first-child{margin-top:0}.izpdPv span:first-child~p:first-of-type{margin-top:0}.hQjaQn{display:flex;position:relative;max-width:100%;min-height:600px;justify-content:center;margin:0 auto;background-color:transparent;clear:both}@media(min-width:1000px){.hQjaQn{min-height:450px}}.teads .hQjaQn{display:block}.hQjaQn [data-mpu]{position:sticky;top:16px}@media(min-width:1000px){.jZcooN{display:none}}.jZcooN[data-mpu1]{min-height:600px}.jZcooN.pb-20{padding-bottom:20px}.hlPMMm{margin:0 0 24px;font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}.euTVax{font:bold 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}.jBfdop{overflow:hidden;width:100%;box-sizing:border-box;margin-bottom:16px}@media(min-width:768px){.jBfdop{max-width:634px}}@media(min-width:1250px){.jBfdop{max-width:622px}}.hKRbzg{width:100%;box-sizing:border-box;padding:8px 12px 12px;border-top:8px solid #ec1a2e;background-color:#fde8ea}@media(min-width:768px){.hKRbzg{padding-top:4px;padding-bottom:12px}}.cKIkhp{font:bold 22px/26px 'Indy Serif','Indy Serif Fallback',serif;margin:0 0 12px;text-align:center}@media(min-width:768px){.cKIkhp{font:bold 30px/34px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.048px;margin-bottom:12px;text-align:left}}.feSJtK{display:block;margin-bottom:12px}@media(min-width:768px){.feSJtK{display:none}}.bErStG{display:flex;width:100%;box-sizing:border-box;align-items:center;justify-content:center;gap:4px;background-color:#fde8ea;color:#ec1a2e}@media(min-width:768px){.bErStG{width:auto;justify-content:flex-start}}.vaVnf{display:block;font:bold 14px/20px 'Indy Sans','Indy Sans Fallback',sans-serif;text-decoration-line:underline;margin-block:0;text-align:center}.jWuFRk{display:inline-flex;align-items:center;justify-content:center;gap:4px}.jWuFRk:hover .sc-hez36s-5,.jWuFRk:hover .sc-a5wy94-0{color:#ac2a2c}.hKrnEq{font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}.dWUzhG{display:flex;width:100%;flex-direction:column}@media(min-width:768px){.dWUzhG{display:flow-root;gap:24px;transition:margin-bottom .3s ease-in-out}}.bDgIJb{display:flex;width:100%;flex-direction:column;align-items:center;justify-content:center}@media(min-width:768px){.bDgIJb{width:212px;flex-shrink:0;justify-content:flex-start;margin-left:24px;float:right}}.EYumw{display:none;flex-direction:row;align-items:center;justify-content:center;gap:8px;margin-top:8px}@media(min-width:768px){.EYumw{display:flex;margin-top:12px}}.kCOwPr{display:flex;width:100%;align-items:center;justify-content:center;gap:8px;margin-top:8px;margin-bottom:12px}@media(min-width:768px){.kCOwPr{display:none}}.iGXncB{display:flex;overflow:hidden;height:0;flex-direction:column;gap:8px;opacity:0;transition:all .3s ease-in-out}@media(min-width:768px){.iGXncB{display:flex;position:relative;width:auto;height:40px;order:-1;opacity:1;transition-behavior:allow-discrete}.iGXncB::after{--fade-from:rgba(253,232,234,0);--fade-to:#fde8ea;position:absolute;bottom:0;left:0;z-index:1;width:100%;height:40px;background-image:linear-gradient(to bottom,var(--fade-from),var(--fade-to));content:'';opacity:1;transition:opacity 150ms ease-out}}@media(min-width:768px){.doTReP{order:-1}}.ggPDxB{display:none;padding-top:8px;margin-top:16px;border-top:1px solid #919191}@media(max-width:767px){.ggPDxB{display:flex}}.gibhIT{display:none}@media(min-width:768px){.gibhIT{display:flex;position:relative;align-items:flex-start;margin-top:12px}}.dxwzhm{display:flex;min-height:600px;justify-content:center}@media(min-width:1000px){.dxwzhm{min-height:450px}}.gHNATZ{min-height:600px}@media(min-width:1000px){.gHNATZ{min-height:450px}}.gHNATZ.mobile-only{display:block}@media(min-width:1000px){.gHNATZ.mobile-only{display:none}}.gHNATZ.desktop-only{display:none}@media(min-width:1000px){.gHNATZ.desktop-only{display:block;margin-bottom:16px}}.gHNATZ.desktop-only+p{margin-top:0}.gHNATZ .third-party-ad{position:sticky;top:16px}.blOrrc{width:100%;flex-grow:1}.blOrrc .amp-article-content[amp-access][amp-access-hide]{display:block;overflow:hidden;max-height:360px}.blOrrc .amp-article-content[amp-access][amp-access-hide] .social-share{display:none}.blOrrc .amp-article-content[amp-access][amp-access-hide].show-all-content{max-height:100%}@media(max-width:594px){.blOrrc .amp-article-content[amp-access][amp-access-hide]{max-height:530px}}.blOrrc .amp-newsletter-reg-gate{position:relative;left:-12px;width:calc(100% + 24px)}.blOrrc .social-share{width:100%;padding-top:10px;padding-bottom:20px}@media(min-width:768px){.blOrrc .social-share{justify-content:flex-start}}.blOrrc .social-share.sticky{display:none}@media(min-width:1000px){.blOrrc .social-share.sticky{display:flex;position:sticky;top:14px;width:34px;flex-direction:column;margin-top:0;margin-left:-25%;float:left}.blOrrc .social-share.sticky amp-social-share,.blOrrc .social-share.sticky .sc-mgcah7-0{margin:0 0 16px}.article-feature-video .blOrrc .social-share.sticky{margin-top:0}.article-feature:not(.article-feature-video) .blOrrc .social-share.sticky{margin-top:35%}}.blOrrc.sponsored-article img,.blOrrc.sponsored-article video{width:100%;max-width:602px;height:auto}.blOrrc.sponsored-article iframe{max-width:602px;max-height:400px}.blOrrc .under-article-prompt-donations{padding-bottom:8px;margin-top:-3px}.blOrrc .big-letter{--color:#222;display:flex;position:relative;width:0;height:0;align-items:center;justify-content:center;padding:40px;margin-top:22px;margin-right:12px;border:1px solid var(--color);float:left;font:normal 52px/1 'Indy Serif','Indy Serif Fallback',serif;text-transform:uppercase}.blOrrc .big-letter:first-child{margin-top:6px}.blOrrc .big-letter::before{position:absolute;top:0;left:0;width:100%;height:100%;box-sizing:border-box;border:1px solid var(--color);border-radius:50%;content:''}.blOrrc #taboola-below-article-1{min-height:2350px}@media(min-width:768px){.blOrrc #taboola-below-article-1{min-height:3370px}}.blOrrc #taboola-below-article-1-split-num-1{min-height:130px}@media(min-width:768px){.blOrrc #taboola-below-article-1-split-num-1{min-height:415px}}.blOrrc .sc-fwko30-0+.sc-1xtsh2b-0{margin-top:-16px}@media(min-width:768px){.blOrrc{max-width:636px;margin:0}}@media(min-width:1000px){.blOrrc{max-width:624px;margin:0}.blOrrc.subscribed{max-width:636px}}@media(max-width:999px){.blOrrc{padding-right:0}.blOrrc .under-article-prompt-donations{margin-top:-18px}}.kvSKnI{display:flex;flex-wrap:wrap;justify-content:flex-start;margin-bottom:8px;color:#646464;font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.kvSKnI{width:70%;align-items:center;justify-content:flex-start;margin-bottom:0;font:normal 16px/24px 'Indy Sans','Indy Sans Fallback',sans-serif}}@media(min-width:1000px){.kvSKnI{width:70%;margin-bottom:0}}.fKGvbc{display:flex;height:20px;margin:0 12px 8px 0}.fKGvbc::before{display:inline-block;align-self:center;margin-top:1px;margin-right:12px;content:'\2022';transform:scale(1.5)}.fKGvbc:first-child::before{content:none}@media(min-width:768px){.fKGvbc{height:24px;margin-bottom:0}.fKGvbc::before{margin-top:2px}}.fKGvbc time{display:block}.fKGvbc time::first-letter {text-transform:capitalize}.eUdsoy{color:#fff}.jGlqRq{display:inline-block;margin:0 12px 8px 0;color:#ef4757;font:bold 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif;letter-spacing:-0.5px}.jGlqRq:hover,.jGlqRq:active{color:#f58992}@media(min-width:768px){.jGlqRq{margin-bottom:0}}.hBKmwt{margin:0 12px 8px -8px}@media(min-width:768px){.hBKmwt{margin-bottom:0}}.cBhCUD{color:#fff}.enHDwq{margin:0 4px 8px 0}.enHDwq::before{display:inline-block;margin-top:2px;margin-right:12px;color:#646464;content:'\2022';transform:scale(1.5)}.enHDwq:first-child::before{display:none}@media(min-width:768px){.enHDwq{margin-bottom:0}}.jmYqVV::before{color:#fff}.hfnwMY{display:flex;justify-content:flex-start;padding:0;margin:0 0 16px}@media(min-width:768px){.hfnwMY{display:flex;width:30%;align-items:center;justify-content:flex-end;margin:0}}@media(min-width:1000px){.hfnwMY{width:30%}}.hrDjjf{padding-top:0;border-top:0;border-bottom:0}@media(min-width:768px){.hrDjjf{display:flex;flex-flow:row wrap;padding-bottom:16px}.hrDjjf .sc-1qz44j0-0{order:1}.hrDjjf .sc-1qz44j0-10{order:2}}@media(min-width:1000px){.hrDjjf{flex-direction:row}}.dnLbAr{padding:16px 12px 12px;text-align:left;font:bold 14px/18px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.dnLbAr{padding:16px 16px 12px}}.article-infact .dnLbAr{padding:16px 0}@media(min-width:1000px){.dnLbAr{padding:24px 0 19px}.article-feature .dnLbAr{max-width:968px;margin:0 auto}}.dnLbAr a{color:#fff}.dnLbAr a:hover{color:#f58992}.dnLbAr a:hover::after{color:#fff}.dnLbAr a::after{margin-right:4px;margin-left:4px;content:'>'}.dnLbAr a:last-child::after{display:none}.azcVx{margin:0 0 20px;letter-spacing:0}.VFZbw{margin:0;color:#646464;font:normal 16px/20px 'Indy Sans','Indy Sans Fallback',sans-serif}@media(min-width:768px){.VFZbw{font:normal 18px/22px 'Indy Sans','Indy Sans Fallback',sans-serif}}@media(min-width:1000px){.VFZbw{font:normal 20px/24px 'Indy Sans','Indy Sans Fallback',sans-serif}}.VFZbw p{font:inherit}.article-feature .VFZbw a{font-weight:bold}.hsJCLD{max-width:968px;margin:0 auto;background:#222}@media(min-width:1000px){.hsJCLD{padding:0 16px}.parallax .hsJCLD{max-width:1240px}}.bJjAgi{font:bold 32px/36px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0156em}@media(min-width:768px){.bJjAgi{font:bold 44px/48px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0113em}}@media(min-width:1000px){.bJjAgi{font:bold 54px/58px 'Indy Serif','Indy Serif Fallback',serif;letter-spacing:-0.0092em}}.hZFQIi{background:#222}.hZFQIi .sc-qvufca-1{max-width:968px;background:#222}.hZFQIi .sc-qvufca-0{margin:0}@media(max-width:999px){.hZFQIi .sc-qvufca-0{margin:0 12px 0}}.hZFQIi .sc-22qwnu-0,.hZFQIi .sc-22qwnu-0 a{color:#fff}.hZFQIi .sc-qvufca-2,.hZFQIi .sc-aeekvc-0{color:#fff}.hZFQIi .sc-qvufca-2{margin:0 0 20px}.hZFQIi .sc-aeekvc-0{margin-bottom:16px}@keyframes slidedown-video{from{transform:translateY(-100%)}to{transform:translateY(0)}}@keyframes slideup-video{from{transform:translateY(200%)}to{transform:translateY(0)}}.ghXxSp .video-top-container-inner{position:relative}.ghXxSp .video-popout-close{display:none}.ghXxSp .video-hero-wrapper-inner{display:block}.ghXxSp .video-hero-video{width:100%;margin:0;transition:height .2s}.ghXxSp .video-hero-wrapper.sticky-video{position:fixed;top:95px;width:400px;margin-left:-332px;transition:margin-left .3s,top .3s .1s}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video{position:static;right:0;left:auto;width:100%}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video.liveblog{margin-left:-12px}@media(min-width:768px){.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video{position:absolute;width:400px}}@media(min-width:1000px){.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video{top:94px;right:-56px}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video.liveblog{right:-400px}}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video .video-sticky-video{position:fixed;top:0;left:auto;z-index:9;width:100%;background-color:#fff;box-shadow:0 0 40px 10px rgba(0,0,0,0.5)}@media(min-width:768px){.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video .video-sticky-video{width:400px;animation:slidedown-video .4s}}@media(min-width:1000px){.ghXxSp .video-top-container.video.sticky:not(.closed) .video-hero-video .video-sticky-video{top:auto;bottom:0;animation:slideup-video .4s}}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-popout-close{display:none;width:100%;box-sizing:border-box;align-items:center;justify-content:flex-end;padding:4px 8px 3px;color:#222;cursor:pointer;font-family:'Indy Sans','Indy Sans Fallback',sans-serif;font-size:14px;line-height:14px}@media(min-width:1000px){.ghXxSp .video-top-container.video.sticky:not(.closed) .video-popout-close{justify-content:flex-start}}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-popout-close::after{display:flex;align-items:center;padding-left:4px;content:'\2715';font-size:12px}.ghXxSp .video-top-container.video.sticky:not(.closed) .video-popout-close.shown{display:flex}.rdSkV{max-width:100%}.DduFK{position:relative}.hBOwuD{position:relative;width:100%;padding-top:56.25%;background:#000}.fSyNsa{display:flex;position:absolute;top:0;left:0;width:100%;height:100%;align-items:center;justify-content:center}.cZXjIc{width:10%}.bFEGho.fullscreen{position:fixed;top:0;left:0;z-index:3000000000;width:100%;height:100%;background:#000}.bFEGho .closebtn{display:none;position:absolute;top:0;right:0;width:100px;height:100px}.bFEGho .closebtn.show{display:block}.bFEGho .btn{position:absolute;top:5px;right:5px;width:25px;height:25px;color:#fff;font-family:helvetica,sans-serif;font-size:20px;line-height:25px;text-align:center}.JCJLP{max-width:100%;clear:both}.dyGKzS{--bleed:12px;display:flex;box-sizing:border-box;flex-direction:row;gap:32px;padding:16px var(--bleed);background-color:#fff}.article-liveblog .dyGKzS{background-color:#f7f7f7}@media(min-width:768px){.dyGKzS{--bleed:0;max-width:1000px;margin:0 auto}}@media(min-width:1000px){.dyGKzS{--bleed:16px;max-width:1000px;padding:var(--bleed)}}.gIldS{overflow:hidden;height:0;color:transparent}.kFPmfF{max-width:100%;margin:0 0 20px}.kFPmfF.sticky{position:sticky;top:16px}.iaRZct{min-height:600px}.iaRZct #mpu1{position:sticky;top:16px}.bFiDnI{min-height:250px}.jAzEot{max-width:100%}.eDScvc{margin:0 0 6px;color:#646464;font-family:'Indy Sans','Indy Sans Fallback',sans-serif;font-size:15px}.CmSgF{margin:0 0 12px}.lbFVDq{height:380px}.bsSHYO{width:100%;height:51px}.bjKtIv{margin-bottom:16px;border-bottom:1px solid #919191}.jLzsCV{margin-bottom:16px}.jLzsCV [role='listitem']{position:relative;margin-bottom:12px;border-bottom:1px solid #d3d3d3}.jLzsCV [role='listitem'] .sc-u4n1j-0{display:flex;position:absolute;bottom:16px;left:10px;width:32px;height:32px;align-items:center;justify-content:center;border-radius:50%;background-color:#ec1a2e}.jLzsCV [role='listitem'] .sc-u4n1j-0>svg{width:90%;fill:#fff;stroke:transparent}.jLzsCV [role='listitem']:first-child{display:block;padding-bottom:0;margin-bottom:12px}.jLzsCV [role='listitem']:first-child .sc-u4n1j-0{top:-15px;bottom:auto;left:12px;width:35px;height:35px}.jLzsCV [role='listitem']:first-child>*:first-child{display:block;width:100%;height:205px}.jLzsCV [role='listitem']:first-child>*:last-child{position:absolute;bottom:0;width:100%;padding:28px 12px 12px;background:linear-gradient(to top,#222 50%,rgba(34,34,34,0.9) 100%) no-repeat;color:#fff;font-size:17px;font-weight:bold}.jLzsCV [role='listitem']:last-child{margin-bottom:0;border-bottom:0 none}@media(max-width:767px){.eKzHlQ{display:none}}.iFeFcz{width:308px}.iFeFcz.hidden{display:none}@media(max-width:999px){.iFeFcz{display:none}}.article-liveblog .fbWdwj{background-color:#f7f7f7}.eFgmkR{justify-content:center}.cvujVr{justify-content:center}
Tech Elon Musk looking to bring in partners for Twitter bid, says report Platform has responded to $43bn offer from entrepreneur with ‘poison pill’
Subscribe to Independent Premium to bookmark this article Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Subscribe Already subscribed? Log in Elon Musk's $43 billion bid to buy Twitter Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference. Close Read more Elon Musk is talking to investors to potentially partner with him on his $43bn attempt to buy Twitter , according to a report.
The Tesla titan launched his stunning bid for the social media platform with a $54.20 per chase cash offer as he claimed he was the right leader to “unlock” its “extraordinary potential”.
Now the South African-born entrepreneur is developing a new plan that could be announced in days, according to The New York Post.
Mr Musk could team-up with Silver Lake Partners, a global private equity firm that invests in tech and which was a potential investor when he considered taking Tesla private in 2018, a source told the newspaper.
Silver Lake’s Co-CEO Egon Durban is already a Twitter board member.
Twitter’s board responded to Mr Musk’s offer on Friday by putting in place a one-year “Rights Plan” after it received “an unsolicited, non-binding proposal to acquire Twitter.”
The measure would give shareholders the opportunity to buy Twitter stock at a discounted price if Mr Musk increases his holdings to more than 15 per cent of the company, in a plan deliberately designed to water down his stake.
“The Rights Plan is intended to enable all shareholders to realize the full value of their investment in Twitter,” the board said in a statement,
“The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders.”
The board says that the Rights Plan will stay in place until 14 April, 2023.
Mr Musk made his offer for Twitter in a letter to board chairman Bret Taylor.
“I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” he wrote.
The Independent has reached out to Silver Lake for comment.
Thank you for registering Please refresh the page or navigate to another page on the site to be automatically logged in Please refresh your browser to be logged in
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments