NICE: Elon’s Twitter Purchase Blows Through Another Roadblock

Things just keep getting better for Elon Musk, the eccentric billionaire that owns Tesla, Space X, the Boring Company, and who will soon own Twitter.

His acquisition of that social media giant just moved past a major hurdle; a government anti-trust waiting period required under the Hart-Scott-Rodino Antitrust Improvements (HSR) Act of 1976, with that required waiting period running out on Friday.

Under the HSR, companies must give the FTC and DOJ advance notice of transactions over a certain, large threshold so that those agencies have time to probe acquisition attempts for anti-trust issues, giving the two agencies 30 days t look into the purchase and examine its legality.

Now, despite the fact that the woke Biden DOJ likely would have loved to stop Elon from bringing free speech back onto Twitter, that time period has passed, with Fox Business reporting that neither the FTC nor the DOJ requested additional information regarding the purchase in an attempt to stop it on antitrust grounds.

However, while that government roadblock to Elon’s purchase has been bypassed, the time period running out doesn’t signify that the deal can now close, as other regulatory hurdles must be jumped over first. Fox Business, noting that, reports that:

While the expiration of the HSR waiting period has been satisfied, Twitter emphasized that the deal’s completion is still subject to remaining customary closing conditions, including shareholder and remaining applicable regulatory approvals. 

The deal, which would take Twitter private at $54.20 per share, is expected to close in 2022. 

Further, while Musk can likely jump over those hurdles too, the deal is currently on hold. Read more