Twitter Inc said on Friday that the waiting period under the 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 Twitter shareholder approval and receipt of appropriate regulatory approvals, Twitter said. 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 Antitrust Division of the US Department of Justice for review. The development comes as Musk said last month that the Twitter deal was “temporarily on hold”, while looking for more information on the proportion of fake accounts on the platform. The best of Express PremiumTop quality
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Premium Musk has secured funding for the deal, which includes $33.5 billion through equity financing and $13 billion through loans against Twitter. Twitter shares rose 2% to $40.62 in pre-trading. to marketing.
