The Wait Is Over. Time For Twitter Sale To Take Flight. 

FILE - The Twitter application is seen on a digital device, Monday, April 25, 2022, in San Diego. Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in “unlawful conduct” aimed at sowing doubt about his bid to buy the social media company. The lawsuit filed late Wednesday, May 25, 2022, in the U.S. District Court for the Northern District of California claims the billionaire Tesla CEO has sought to drive down Twitter’s stock price because he wants to walk away from the deal or negotiate a substantially lower purchase price. (AP Photo/Gregory Bull, File)

The waiting period for the $44 billion acquisition of Twitter is over for Elon Musk, the social media company said, so now it’s time to start writing contracts and cutting checks. 

For the deal to be completed, it must go through normal closing conditions.  Twitter’s stockholders must approve it, and it also has. To go through regulatory procedures.

There’s something called the HSR Act, which requires parties to report large transactions to the Department of Justice and Federal Trade Commission so they can take a deep dive into it. A $44 billion sales tag does count as a “large transaction.”

The Federal agencies get 30 days from the time they are notified to pursue an initial investigation if they feel one is needed to assess the deal’s legality. But since neither agency required additional info, the deadline passed, and the sale process can move forward, possibly in the fast lane. 

No word if Musk has received information supporting what Twitter said about only 5% of their platform users are fake or spam accounts.  Musk has a hunch the number is much higher, potentially allowing him to make the eventual sale price go much lower. 

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