Home Latest News Twitter says waiting period for Elon Musk’s deal has expired – The...

Twitter says waiting period for Elon Musk’s deal has expired – The Hindu

Ads

Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration. | Photo Credit: Reuters
Twitter Inc on June 3 said the waiting period under the Hart-Scott-Rodino Antitrust Improvements [HSR] Act for Elon Musk’s $44-billion acquisition of the social media firm has expired.
Completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals, Twitter said.
The HSR Act requires parties to report large transactions to both the Federal Trade Commission and the U.S. Department of Justice Antitrust Division for review.
The development comes as Mr. Musk said last month that the Twitter deal was “temporarily on hold”, while he sought more information about the proportion of fake accounts on the platform.
The Tesla CEO has secured funding for the deal, which includes $33.5 billion through equity financing and $13 billion through loans against Twitter.
Twitter’s shares rose about 2% to $40.62 in premarket trading.

Our code of editorial values
Printable version | Jun 3, 2022 8:06:10 pm | https://www.thehindu.com/news/international/twitter-says-waiting-period-for-elon-musks-deal-has-expired/article65491614.ece
© THG PUBLISHING PVT LTD.

source

Ads
Previous articleiPad 2 types of app updates – MacRumors
Next articleNFT $RAP UP: Crypto, Music NFT, Wearable & Metaverse news – HipHopCanada
He is well known among his circle for his incredible attraction towards smartphones and tablets. Charles is a python programmer and also a part-time Android App developer.