HandbookApprovals and conditions
What are closing conditions?
What it means and how to read it on a deal.
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Tracking Alpha
What it is
What must happen before the deal can close, such as holder approval, antitrust clearance or other approvals.
On the site asStill pendingConditions
- Pending
- Filed
- Second request
- Phase 2
- Cleared
- Cleared with remedies
- Obtained
- Not required
- Failed
How to read it
The deal page lists every one under Still pending, each with its status and quote; the deal sheet lists them under Conditions. A condition is Pending, Done, Failed or Not required. On the deal page a done antitrust or CFIUS approval reads Cleared, and other regulatory approvals and third-party consents read Obtained; the regulatory card and the deal sheet's steps say Cleared.
Approvals with stages show them: see HSR and review phases. A date that passed with nothing filed since keeps its stage and says so: see no filing yet says what happened.
- Pending
- Filed
- Second request
- Phase 2
- Cleared
- Cleared with remedies
- Obtained
- Not required
- Failed
