New Delhi: Elon Musk, the world's richest person, recently announced the purchase of micro-blogging site Twitter. Although later he temporarily put this deal on hold, but now the waiting period of this deal has ended. Twitter said on Friday that according to the HSR Act, the waiting period for Elon Musk's $ 44 billion deal to buy micro-blogging site has ended.
Now only a few traditional rituals of closing this deal are left. This includes the approval of the deal from Twitter's shareholders and the approval of other regulators. Let us tell you that a few days after offering to buy Twitter, Elon Musk put the deal on 'temporary hold' because he wanted more information about the micro-blogging site. It also included the issue of fake accounts.
What is HSR Act?
Let us tell you that the HSR Act works for deals of large amounts in America. Under the Hart-Scott-Rodino Antitrust Improvements Act, whenever a company makes a deal worth billions of dollars, the parties concerned have to give details in this regard for review to the Federal Trade Commission and the US Department of Justice Antitrust Division. . Let us tell you that Elon Musk offered $ 44 billion to buy Twitter. In this, $33.5 billion is to be given as the price of equity share price, while $13 billion is to be taken in the name of Twitter.
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