HandbookApprovals and conditions
What is a second request?
What it means and how to read it on a deal.
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Tracking Alpha
What it is
A request from the FTC or the Justice Department for more information about a deal. It extends the HSR waiting period, usually until 30 days after the parties substantially comply, or 10 days after the buyer does in a cash tender offer.
How to read it
Shown as the HSR stage Second request, in the pending colour; the Regulatory column reads HSR second request. It usually lengthens the review.
