The HSR Act specifies certain required waiting periods, but any filing party may request the termination of the applicable HSR waiting period before its end. Such a request for "early termination" will be granted only after compliance with the rules and if both the Federal Trade Commission and Department of Justice Antitrust Division have completed their review and determined they will not take any enforcement action during the waiting period. All parties must file before early termination will be granted.
In some instances, after a Request for Additional Information and Documentary Material (Second Request) has been issued, the investigating agency will determine that no further action is necessary and terminate the HSR waiting period before the parties have fully complied with the Second Request.
Because the FTC administers the HSR premerger notification program, all grants of early termination, regardless of which agency reviews a transaction, are listed in the PNO’s early terminations index.
For more information about early termination and timing considerations, please check out our blog post on HSR timing.
Developers can access early termination notices data via our HSR Early Termination Notices API Endpoint.