Elon Musk’s Twitter Buyout To Face FTC Antitrust Review: Report

Elon Musk’s Twitter Buyout To Face FTC Antitrust Review: Report


Elon Musk’s $44 billion buyout of Twitter is being reviewed by the Federal Trade Commission (FTC), according to a new report.

Bloomberg News first reported the news on Thursday, with the FTC declining to comment.

“Under U.S. merger law, Musk is required to notify the FTC and the Justice Department of the transaction and wait at least 30 days before closing to allow an investigation into potential antitrust concerns,” Bloomberg reported.

Trending: Kash Patel: “Trump May Surprise Some People With What Comes Next And The Timing Of It…”

“The FTC can ask for additional information, issuing what’s known as a second request, which would further delay closing,” the report added.

The deal is not expected to be blocked, but critics have claimed the new purchase will give Musk too much control over free speech.

A letter sent by more than two dozen groups after the announcement that

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend