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.
“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