Model Timing Agreement Doj

Posted on September 27, 2021

Under the DOJ`s latest Model Timing Agreement, this period is usually less than or equal to 60 days. [4] However, as part of this temporary change to the process, the DOJ will request an additional 30 days or up to a total of 90 days after the parties have responded to their second requests. The DOJ warned that it may in the future seek further revisions of existing time agreements, depending on further developments. Clients who are the subject of a second request from an agency should be prepared for a broad review and a request for an extension under an existing or pending time agreement. HSR-reported transactions that are not subject to a second application can also be appeased because the FTC has suspended the granting of early termination. Merger investigations typically include timing agreements that provide, among other things, an agreed framework for the date of certain stages of the investigation. Timing agreements also ensure that FTC employees are informed of the parties` plans for the settlement of the transaction. Both parties and officials benefit from the adoption of such a framework shortly after the publication of the request for additional information and documents, also known as the second request, as it allows staff and parties to engage in substantive exchanges efficiently and without too much uncertainty during the period of consideration of the second request. The FTC`s announcement does not specify any changes to its approach to timing agreements, but warns that it is conducting a “Matter by Matter” review of its investigations and litigation to examine the need to change timing agreements. Once the second application is submitted, the agencies will normally invite the parties to enter into a time agreement in which the parties agree not to enter into the transaction for a period after the expiry of the waiting for the HSR.

The FTC conducts a review of investigations and disputes to determine whether to request additional time in accordance with legal and agreed time limits. [6] The FTC stated that “[p] arties and his lawyers should expect us to get in touch to discuss the proposed amendments.” [7] The FTC did not specify the overtime it was seeking. In addition, the model requires parties to notify 30 calendar days in advance before certifying substantial compliance with the second request and 30 calendar days before the conclusion of the proposed transaction. These communication requirements help staff structure the date for the development of a recommendation on this topic. Most importantly, they allow staff to plan an appropriate schedule for all meetings that the parties wish to have with the management of the department, the front office of the Bureau and individual commissioners, so that the parties have the opportunity to present their arguments and evidence before the expiry of the agreed review period. . . .


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