Musk's $44 bln buyout of Twitter faces U.S. antitrust review -report | Reuters

Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado RuvicRegister now for FREE unlimited access to Reuters.comMay 5 (Reuters) – The U.S. Federal Trade Commission (FTC) is reviewing Tesla (TSLA.O) Chief Executive Elon Musk’s $44 billion takeover of Twitter Inc (TWTR.N), Bloomberg News reported on Thursday, citing a person familiar with the deal.The FTC declined to comment, while Musk could not be reached for comment.The agency will decide in the next month whether it will do an in-depth antitrust probe of the proposed transaction, the person told Bloomberg. Such a probe would delay the deal’s closing by months.Register now for FREE unlimited access to Reuters.comAntitrust experts have said there is little likelihood the agency will find any evidence that Musk’s purchase of Twitter is illegal under antitrust law.The FTC is already investigating Musk’s initial purchase of a 9% stake in Twitter, probing whether he complied with an antitrust reporting requirement when he acquired the shares in early April. read more One critic of the deal has been Open Markets Institute, which said that it should be stopped to avoid giving an already powerful man “direct control…
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