2nd Requests Almost Always Spell Trouble For Deals
Law360, New York (March 1, 2017, 1:13 PM EST) -- A deal's chance of clearing antitrust review unscathed falls drastically once a second request for information is handed out, a trend that was particularly prevalent in 2015 for tie-ups in the transportation, retail trade and pharmaceutical industries and for deals reviewed by the U.S. Department of Justice, a recent study shows.
The 2015 fiscal year, the most recent year for which there was data, had a banner mergers and acquisitions market and thus saw a rise in the number of reported transactions or those that could reasonably draw a second request from either the DOJ or the Federal Trade Commission, according...
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