All of the hysterical liberals who promised to delete their Twitter accounts if Elon Musk’s $44 billion acquisition of the left-leaning platform goes through had better warm up their index fingers, as the deal just cleared a major regulatory hurdle.
According to Fox Business, Musk’s proposal to buy the social media giant passed the first major test — clearing the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, which officially expired on Friday.
Fox added: “The HSR requires companies to give advance notice of transactions above a certain threshold to the Federal Trade Commission and Department of Justice. The agencies have 30 days from the notification to pursue an initial investigation of the transaction to determine whether additional information is needed to assess its legality. Neither agency requested additional information.”
In other words, any attempts by the government to block the sale were not requested, and the waiting period for such entities to do so has expired.
Twitter announced that the U.S. antitrust waiting period for @elonmusk $44 billion acquisition of the social media giant had expired, indicating it had dodged a lengthy review of the proposed deal, and Elon Musk can move forward to closing the deal https://t.co/Wg85Mdg1ZN
— Adam Milstein (@AdamMilstein) June 4, 2022
The deal, which Fox noted will take the social media company to the private sector at $54.20 per share upon closing, is expected to go through, pending a handful of other business procedures.
Musk has promised to bring free speech back to the platform, which is how it originally began before left-leaning politicians and media outlets essentially colluded with the platform’s founders to make it an influential, game-changing political weapon for the Democratic Party.
Earlier this month, Musk called into question the number of bots or fake accounts that the platform actually has, as opposed to what they have claimed in regulatory filings. Musk, and many others in the industry, claim to have proof that the number of bots is much higher.
Musk has hinted that the deal could change, if not significantly in his favor if it’s proven that there are fewer “real” users on the platform than what he was told while striking the deal. Only time will tell.