Twitter Inc said the waiting period under the HSR Act for Elon Musk’s $44-billion acquisition of the social media firm has expired.
The HSR Act, or the Hart-Scott-Rodino Antitrust Improvements 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 completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals.
The development comes as Musk said the Twitter deal was temporarily on hold, while he sought more information about the proportion of fake accounts on the platform. Musk has secured funding for the deal, which includes $33.5 billion through equity financing and $13 billion through loans against Twitter.
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