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Share Name Share Symbol Market Type
Twitter Inc NYSE:TWTR NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 53.70 0 00:00:00

Twitter Says Antitrust Waiting Period For Musk Deal Has Closed

03/06/2022 2:05pm

Dow Jones News


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By Dean Seal

 

Twitter Inc. said Friday the window has closed for federal antitrust regulators to block Elon Musk's proposed $44 billion acquisition of the social media company.

The company said the 30-day waiting period established under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, which gives the Federal Trade Commission and Justice Department time to review a transaction for potential antitrust violations, expired for the deal Thursday night.

Musk's proposed $54.20 a share acquisition is still far from final, after the Tesla Inc. CEO said the deal was "on hold" last month until he could get a handle on the number of fake accounts operating on the platform.

He added later that he remained committed to the acquisition, though analysts believe he may be looking to renegotiate or scrap the deal in light of recent turbulence in Tesla's stock price and a broader selloff of tech stocks.

Twitter shares rose 2% in premarket trading to $40.75.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

June 03, 2022 08:50 ET (12:50 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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