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Twitter Clears US Antitrust Review on $44 Billion Musk Deal

June 3, 2022, 1:40 PM

Twitter Inc. has passed the US antitrust review, clearing a hurdle for its acquisition by Elon Musk in a proposed $44 billion deal.

Approval was largely expected but the transaction is still subject to acceptance by Twitter shareholders and other regulatory reviews.

WATCH: Behind the scenes at Twitter.
Source: Bloomberg

Under US merger law, Musk was required to notify the Federal Trade Commission and the US Department of Justice antitrust division to allow an investigation into potential antitrust concerns. The 30-day review period expired Thursday night. It may still be months before Twitter fully comes under Musk’s control as the billionaire continues to seek additional financing commitments. ...