Twitter reported that this Friday (3), the waiting period for the purchase of the company by Tesla CEO Elon Musk, to be closed.
Announced last month, the agreement provides for the acquisition of the social network at US$ 54.20 per share, but it still needs to comply with legal procedures to be effective.
Under the 1976 Hart-Scott-Rodino antitrust law, after the deal is announced, the parties must meet a waiting period so that regulators can assess whether they have immediate restrictions on the transaction.
Compliance with the standard is an essential requirement for the purchase to proceed.
Last week, Musk pledged to invest more of his fortune to fund the $44 billion deal.
The billionaire decided to include $33.5 billion in stock in the plan and backed out of using a Tesla-backed margin loan.
After the news, Twitter’s share rose 2.58% on the pre-market of the New York Stock Exchange, around 9:20 am (GMT).
Source: CNN Brasil
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