Twitter has successfully passed an antitrust review by US regulators, and Elon Musk’s purchase of the social network will not encounter any obstacles from government antitrust authorities, reports Bloomberg.
A positive decision was initially expected on this issue, and in order to take over the social network, the transaction still needs to be approved by the company’s shareholders, in addition, checks are expected from other departments. Mr. Musk, according to US law, had to notify the Federal Trade Commission (FTC) and the relevant division of the US Department of Justice about his intentions to buy Twitter, which is the reason for an antitrust investigation.
Last night, the statutory 30-day period that is allocated for this inspection expired. The complete closing of the transaction will take quite a long time – it can even stretch for several months, as the businessman continues to work out the financial side of the issue.
Musk also had questions from another department about the execution of documents related to the transaction. As it recently became known, back in early April, the US Securities and Exchange Commission (SEC) sent a request to a businessman to find out if he really notified her of buying a significant stake in Twitter late – a 10-day period is allocated for this by law – and for what reason he chose a form for notification intended for passive investors who derive income from shares and do not interfere in the management of companies.