Twitter says waiting period for Elon Musk's deal is over

Dubai, Jun 3: The waiting period under the HSR Act for Elon Musk's $44-billion acquisition of the social media firm has expired, Twitter Inc. said on Friday.

The expiration of the HSR waiting period occurred at 11:59 p.m. EDT on June 2, 2022, which was a condition to the closing of the pending transaction, it said.

"Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Twitter stockholders and the receipt of remaining applicable regulatory approvals," the statement from Twitter said.

A few weeks ago, Tesla CEO Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk said in a tweet.