The US FTC starts issuing "Pre-Consummation Warning Letters" for transactions investigations which may need to remain open beyond the regular HSR waiting period

On Tuesday, August 3, 2021, the Federal Trade Commission announced a new approach for merger investigations that the FTC does not complete during the Hart-Scott-Rodino Act (HSR) waiting period—the FTC may advise merging parties via a Warning Letter that its investigation remains open despite the expiration of the HSR waiting period. The FTC announced on August 3, 2021, that it has begun issuing "Pre-Consummation Warning Letters" for transactions that it cannot fully investigate within the HSR waiting period, which is generally 30 days (or 15 days for cash tender offers and certain bankruptcy transactions) [1]. A blog post from Holly Vedova, Acting Director of the FTC's Bureau of Competition, explains that a "tidal wave of merger filings" has strained the FTC's ability to sufficiently

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Authors

  • White & Case (Washington)
  • White & Case (Washington)
  • White & Case (Washington)
  • White & Case (Washington)
  • White & Case (Washington)
  • White & Case (New York)

Quotation

Mark J. Gidley, George Paul, Rebecca H. Farrington, Nicholas Putz, Jaclyn Phillips, Chenyuan Fu, The US FTC starts issuing "Pre-Consummation Warning Letters" for transactions investigations which may need to remain open beyond the regular HSR waiting period, 3 August 2021, e-Competitions July 2021, Art. N° 101807

Visites 303

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues