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FTC’s Merger Review Process Change Muddies Deal-Closing Outlook

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A subtle shift in the Federal Trade Commission’s merger review process will add more risk management work for companies hoping to quickly wrap up mergers.

The FTC warned this month that it lacks resources to complete an initial review of companies’ sizable mergers and acquisitions within 30 days, as generally laid out in the Hart-Scott-Rodino (HSR) Act.

The FTC will now send a letter to companies doing deals that can’t be fully reviewed within 30 days that its investigation remains open and their deal may be subsequently declared unlawful.

The agency, which is currently facing a surge of deals, has …

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