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Twitter Deal Waiting Period Over:Ball in Stakeholder's Court
By: Tupaki Desk | 4 Jun 2022 9:27 AM GMT
The Twitter deal made by World's richest person Elon Musk is no less than an edge-of-the-seat corner. At regular intervals, some issue pops up. At one point, Elon Musk hinted at leaving the deal as he is not satisfied with Twitter's response on the details of the spam accounts on the platform.
Despite the current management trying its best in making Elon Musk understand its policy on the spam accounts, Elon Musk was not satisfied with the answer and said that the deal was kept on temporary hold as he wants to know some more information on the spam accounts.
As another big development, it is now appearing that the Twitter deal might not take place as the waiting period for the deal has come to an end. The waiting period which was given for Elon Musk to finish the deal ended on Friday. Now the stockholders are in a position to decide whether the deal can be finished or not.
It is known that the Twitter deal was made for a whopping amount. Given the big amount involved, time was given to Elon Musk for the deal, which is called the waiting period. The waiting period is granted under the Hart-Scott-Rodino Antitrust Improvements [HSR] Act.
The guidelines say that, as the waiting period is over, it is now in the hands of the Twitter stockholders on deciding the future of the deal. As there are a few customary closing conditions that have to be followed to follow the due procedure, besides Twitter stockholders' approval, a few regulatory approvals are also required.
With the stakeholders now enjoying the status of the deciding factor, the advocacy groups decided that it is now their chance to make sure that the deal is not completed and his $44 billion deal to take over the microblogging site Twitter will be blocked.
The advocacy groups are so strong on this issue that they are ready to seek the United States administration's intervention. On the other hand, there is also an opinion that Elon Musk might have delayed the deal purposefully as he is in no mood to buy the social media giant due to the spam accounts issue.
Despite the current management trying its best in making Elon Musk understand its policy on the spam accounts, Elon Musk was not satisfied with the answer and said that the deal was kept on temporary hold as he wants to know some more information on the spam accounts.
As another big development, it is now appearing that the Twitter deal might not take place as the waiting period for the deal has come to an end. The waiting period which was given for Elon Musk to finish the deal ended on Friday. Now the stockholders are in a position to decide whether the deal can be finished or not.
It is known that the Twitter deal was made for a whopping amount. Given the big amount involved, time was given to Elon Musk for the deal, which is called the waiting period. The waiting period is granted under the Hart-Scott-Rodino Antitrust Improvements [HSR] Act.
The guidelines say that, as the waiting period is over, it is now in the hands of the Twitter stockholders on deciding the future of the deal. As there are a few customary closing conditions that have to be followed to follow the due procedure, besides Twitter stockholders' approval, a few regulatory approvals are also required.
With the stakeholders now enjoying the status of the deciding factor, the advocacy groups decided that it is now their chance to make sure that the deal is not completed and his $44 billion deal to take over the microblogging site Twitter will be blocked.
The advocacy groups are so strong on this issue that they are ready to seek the United States administration's intervention. On the other hand, there is also an opinion that Elon Musk might have delayed the deal purposefully as he is in no mood to buy the social media giant due to the spam accounts issue.
