The acquisition crisis between Elon Musk and Twitter, which started last month, is gaining momentum as antitrust regulators step in. According to the statement from Twitter, the waiting period for the $44 billion buyout offer has ended. Will Elon Musk buy Twitter?
Elon Musk’s last chance to buy Twitter
As you know, Twitter announced that the number of spam or bot accounts is less than 5 percent of total users. However, asking for more detailed reports on this issue, Musk announced that he has suspended the platform purchases until the relevant data is confirmed.
Tesla and SpaceX CEO has not yet made a statement after suspending the purchase due to fake and spam accounts on Twitter. But Elon Musk has expired to make a decision under the HSR Antitrust Act.
Hart-Scott-Rodino (HRS) Antitrust Act warning from the Twitter administration shows that Elon Musk must take action now. If the Tesla CEO hangs the purchase for a while, he will have exceeded the 30-day waiting period and his offer will be considered cancelled.
The statement from the social media management included the following statements:
“The HSR Act or the Hart-Scott-Rodino Antitrust Improvement Act, major transactions of the parties are subject to both the Federal Trade Commission and the US Department of Justice Antitrust. Requires them to notify the Department for review.”
Let’s remind you that Elon Musk made a $44 billion offer for Twitter. The Tesla CEO will receive $33.5 billion from equity financing and $13 billion from investors who give loans for Twitter in the acquisition file he sent.
Twitter shares rose 2 percent during the day. On Friday, it was reported that Twitter shares were trading at $ 40.62.
So what do you think about this issue? Do not forget to share your views with us in the comments section
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