On Friday, Twitter Inc said that the antitrust waiting period for Elon Musk’s $44 billion acquisition of the social media behemoth had passed, meaning that the planned merger had escaped a long examination.
Following the expiration, the acquisition is now subject to the remaining customary closing conditions, which include approval by Twitter stockholders and any other regulatory clearances, according to Twitter.
Deals are submitted to the US government for scrutiny by the Justice Department or the Federal Trade Commission under antitrust legislation. If any agency had made a “second request” for documents, the agreement would have been subjected to a months-long probe.
Last month, though, Tesla Inc. CEO Elon Musk said the Twitter purchase was “temporarily on hold” while he sought more information about the platform’s bogus account percentage.
For the acquisition, Musk has obtained both equity and loan financing.