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Exclusive: Musk’s Twitter deal has been expired, according to the social giant

1 min read
Musk’s Twitter deal has been expired, according to the social giant
(Credit: Fox Business)

On Friday, Twitter announced that the antitrust waiting period for Elon Musk‘s $44 billion takeovers of the social media giant had expired, meaning that the planned agreement had dodged a long investigation.

Following the expiration, the acquisition is now subject to the remaining customary closing conditions, which include approval by Twitter stockholders and any other regulatory approvals, according to Twitter.

Agreements are reported to the US government for review by the Justice Department or the Federal Trade Commission (FTC) under antitrust law. If any agency had made a “second request” for documents, the agreement would have been subjected to a months-long investigation.

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Last month, though, Tesla CEO Elon Musk claimed the Twitter acquisition was “temporarily on hold” while he requested additional information on the platform’s fake account rate. For the acquisition, Musk has secured both equity and debt funding.

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