On July 23, 2026, the U.S. Department of Justice (DOJ) announced that it was returning to a targeted Second Request investigation process with a goal of expediting merger reviews under the Hart-Scott-Rodino (HSR) Act.
The return to the targeted approach is intended to eliminate some of the burden of the Second Request process. As stated by Associate Attorney General Stanley E. Woodward Jr., “This change will allow for quicker and more efficient review of proposed transactions; more effective use of taxpayer resources; and above all, helps the Department do its job to safeguard a competitive marketplace while keeping America open for business.”
Under this targeted process, the DOJ and the merging parties enter into a timing agreement that sets priorities for production of certain materials and information. For the merging parties, there is potential that the prioritization could resolve the DOJ’s questions about the merger prior to full compliance with the Second Request—thus decreasing the burden of compliance with a full Second Request. From the DOJ’s perspective, the targeted process allows the agency to receive key information earlier in its review to assist it in its determination of potential competitive concerns.
In its announcement, the DOJ reiterated that it “remains open to good faith negotiations regarding modifications to Second Requests in all cases.”
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