Twitter Announces Expiration of Hart-Scott-Rodino Waiting Period for Transaction with Elon Musk
Twitter, Inc. (NYSE: TWTR) announced the expiration of the Hart-Scott-Rodino waiting period regarding Elon Musk's acquisition offer of $54.20 per share in cash. This expiration occurred at 11:59 p.m. EDT on June 2, 2022, a prerequisite for closing the acquisition. The completion now hinges on other customary conditions, including stockholder approval and regulatory approvals. Twitter has filed a proxy statement with the SEC related to this transaction. Stockholders are encouraged to review the proxy documents for important information.
- Expiration of the Hart-Scott-Rodino waiting period allows progress toward acquisition.
- Elon Musk's offer of $54.20 per share indicates potential premium for stockholders.
- Completion is contingent on stockholder and regulatory approvals, indicating uncertainty.
- Potential for litigation related to the transaction could disrupt finalization.
SAN FRANCISCO, June 3, 2022 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), with respect to the previously announced agreement for Twitter to be acquired by affiliates of Elon Musk for
The expiration of the HSR waiting period occurred at 11:59 p.m. EDT on June 2, 2022, which was a condition to the closing of the pending transaction. Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Twitter stockholders and the receipt of remaining applicable regulatory approvals.
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Additional Information and Where to Find It
Twitter, its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with the pending acquisition of Twitter (the "Transaction"). Twitter has filed a preliminary proxy statement with the Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies to approve the Transaction. Twitter will furnish the definitive proxy statement, when available, together with a WHITE proxy card to each Twitter stockholder entitled to vote at the special meeting to consider the Transaction. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, is included in the proxy statement and other relevant documents filed with the SEC in connection with the Transaction. Additional information relating to the foregoing can also be found in Twitter's definitive proxy statement for its 2022 Annual Meeting of Stockholders, which was filed with the SEC on April 12, 2022. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT TWITTER WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the proxy statement, any amendments or supplements thereto, and any other relevant documents filed by Twitter with the SEC in connection with the Transaction at the SEC's website (http://www.sec.gov). Copies of the proxy statement, any amendments or supplements thereto, and any other relevant documents filed by Twitter with the SEC in connection with the Transaction will also be available, free of charge, at Twitter's investor relations website (https://investor.twitterinc.com) or by writing to Twitter, Inc., Attention: Investor Relations, 1355 Market Street, Suite 900, San Francisco, California 94103.
Forward-Looking Statements
This communication contains forward-looking statements that involve risks and uncertainties, including statements regarding the completion of the Transaction. If any of these risks or uncertainties materialize, or if any of Twitter's assumptions prove incorrect, Twitter's actual results could differ materially from the results expressed or implied by these forward-looking statements. Additional risks and uncertainties include those associated with: the possibility that the conditions to the closing of the Transaction are not satisfied, including the risk that required approvals from Twitter's stockholders for the Transaction or required regulatory approvals to consummate the Transaction are not obtained; potential litigation relating to the Transaction; uncertainties as to the timing of the consummation of the Transaction; the ability of each party to consummate the Transaction; the occurrence of any event, change or other circumstances that could give rise to the right to terminate the Transaction; possible disruption related to the Transaction to Twitter's current plans and operations, including through the loss of customers and employees; and other risks and uncertainties detailed in the periodic reports that Twitter files with the SEC, including Twitter's Annual Report on Form 10-K filed with the SEC on February 16, 2022 and Quarterly Report on Form 10-Q filed with the SEC on May 2, 2022, which may be obtained on the investor relations section of Twitter's website (https://investor.twitterinc.com). All forward-looking statements in this communication are based on information available to Twitter as of the date of this communication, and Twitter does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Contacts
Investors:
ir@twitter.com
Press:
press@twitter.com
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SOURCE Twitter
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