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Mergers

Under the Hart–Scott–Rodino (HSR) Act of 1976, if a proposed merger and the parties executing it are both above certain sizes, then the parties must report it in advance to the FTC and the Justice Department. The parties must then wait 30 days while the FTC or the Justice Department reviews the merger and decides whether to seek to block it. The 30-day period usually ends with the FTC or Justice Department taking one of three actions: declining to challenge the merger, filing a lawsuit to challenge the merger, or issuing a "Second Request" that extends the waiting period and formally asks the party for all its documents and other information relating to the merger.