Twitter said on Friday that the HSR regulatory waiting period had expired, clearing a hurdle for Elon Musk’s proposed $44 billion deal to buy the company.
Twitter said in a statement that the waiting period for the Hart-Scott-Rodino Antitrust Improvements Act (HSR) ended at 11:59 p.m. Thursday night, which was one of the conditions of the deal closing. Completing the deal still requires approval from Twitter shareholders and other regulators.
According to HSR, Musk and Twitter had to notify the Federal Trade Commission and the antitrust division of the U.S. Department of Justice to review the deal. The transaction may not be completed unless the waiting period prescribed by this law has expired, or the government has approved an early termination of the waiting period.
