When it comes to meeting timelines for HSR Second Requests, timing is key. The latest post from Cimplifi in the HSR Second Request series discusses how the HSR timeline can be a process of hurry up and wait.
Their post (For HSR Second Requests, The Need for Speed is About Timing) discusses the how the HSR Act and various rules associated with it require parties involved in mergers and acquisitions to submit premerger notification filings, then wait before completing the transaction. After announcing the transaction, the parties involved file an HSR notification with the FTC and DOJ (for § 801.30 transactions, only the buyer’s filing must be received). Once the filing is complete, the clock begins ticking with up to two waiting periods, depending on how the process unfolds, so timing is key.
One of those is the initial waiting period, which is 15-30 days: 15 days for cash tender offers and 11 USC § 363 bankruptcies, 30 days for everything else.
So, what are the three potential outcomes associated with the initial waiting period? When does the second waiting period come into play? And what are the possible outcomes of the Second Request? Find out that and more here! And please share any comments you might have or if you’d like to know more about a particular topic. HSR Second Requests may dictate a need for speed, but speed without control can cause you to “crash and burn”! Timing is key! 😉
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