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FTC Dems Take Aim at Merger Review Time Limits
Democrats at the Federal Trade Commission called on Congress to consider revising the statutory time limit imposed on the agency’s merger reviews, citing an “unprecedented” wave of transactions in 2021. A record 3,520 transactions were reported to both the FTC and U.S. Department of Justice in fiscal 2021, more than twice the number that were reported the year before. The agencies also reported a 35% increase in cases where they issued a “second request” subpoena asking the parties for more details about the transaction.