Musk deal for Twitter dodges lengthy U.S. antitrust review

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(Reuters) -Twitter Inc stated on Friday that the U.S. antitrust ready interval for Elon Musk’s $44 billion acquisition of the social media big had expired, indicating it had dodged a lengthy review of the proposed deal.

With the expiration, completion of the deal is now topic to remaining customary closing circumstances, together with approval by Twitter stockholders and every other regulatory approvals, Twitter stated.

Under antitrust regulation, offers are reported to the U.S. authorities for review by both the Justice Department or the Federal Trade Commission. If both company had filed a “second request” for paperwork, the deal would have confronted an investigation that might have lasted months.

However, final month Tesla Inc Chief Executive Musk stated the Twitter deal was “briefly on maintain”, whereas he sought extra details about the proportion of pretend accounts on the platform.

Musk has secured fairness and debt funding for the deal.

In late morning buying and selling on the New York Stock Exchange, Twitter was up a couple of half a % at $40.10 a share.

(Reporting by Nivedita Balu in Bengaluru and Diane Bartz in Washington; Editing by Shounak Dasgupta and Jonathan Oatis)



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