Leon Musk's Twitter Takeover - Will This Break Out Into Political Battle of the Century?

 "The U.S. Federal Trade Commission is reviewing Elon Musk’s $44 billion Twitter Inc. takeover, a person familiar with the deal said, setting up a deadline in the next month for the agency to decide whether to conduct an in-depth review of the transaction." - Bloomberg Law, May 5, 2022

Let's cut to the chase. According to Bloomberg Law's sources problems in being approved are not anticpated. The process consists of Musk's notifying the FTC and the Department of Justice 30 days prior to closing and waiting 30 days for a decision. If the FTC has concerns then it can require more information. That is called a "second request."

The wrench in the works, though, could come from the non-profit - Open Markets Institute - where FTC Chairperson Lina Khan got her start in the antitrust niche. The Open Markets' mission is to stop the threats from the "unprecedented levels of corporate concentration and monopoly." Here is the April 26, 2022 Open Markets statement on the Musk plan titled: "Open Markets Details How US Government Can Block Musk Takeover of Twitter."

Meanwhile, House Republicans are pushing pressure on the FTC to not be vulerable to the stance of Open Markets. 

Obviously, for the FTC as well as conservatives in Congress the approval of the Musk purchase coud evolve into a high-profile matter. Khan's reputation could be in play. Musk could be in for a battle. 

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com.

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