Twitter Inc said Friday that the waiting period under the HSR Act for Elon Musk’s $44 billion acquisition of the social media company has passed.
The closing of the deal is now subject to the remaining customary closing conditions, including approval by Twitter shareholders and receipt of applicable regulatory approvals, Twitter said.
The HSR Act, or the Hart-Scott-Rodino Antitrust Improvements Act of 1976, requires parties to report major transactions to both the Federal Trade Commission and the US Department of Justice Antitrust Division for review.
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