The U.S. Department of Justice (DOJ) antitrust division announced on July 23 that it is streamlining its merger review process. Under the updated procedures, the department may request fewer documents from companies during the initial stages of a merger investigation. The DOJ noted that it retains the authority to request additional information at a later date if warranted by the investigation.
Federal law requires companies to submit documentation for most large transactions to the DOJ and the Federal Trade Commission (FTC) to determine if the deal violates competition laws. Previously, the agencies often issued comprehensive "second requests" for information that could take several months for companies to fulfill. The DOJ stated that these streamlined procedures have been utilized in the past but will now be applied to expedite the review of proposed deals.
Associate Attorney General Stanley Woodward Jr. stated that the change is intended to create a more efficient review process and better utilize taxpayer resources. Woodward said the move helps the department maintain a competitive marketplace while supporting business activity. The adjustment follows a shift in antitrust policy under the current administration.