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"Facebook requested the hearing as a way to speed up the approval of its acquisition." I don't know if that was added to the article later, but it seems to exp
by samstokes 14y ago
"Facebook requested the hearing as a way to speed up the approval of its acquisition."
I don't know if that was added to the article later, but it seems to explain. It wouldn't normally be a matter for the state, being a private transaction; but closing the deal is a matter for Instagram's investors (who have to agree to sell their shares for the agreed price), and it sounds like Facebook thought getting the investors' approval would be easier if a state department ruled that it was in their best interests.