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The HSR Act requires that the parties to certain mergers and acquisitions notify the FTC and the DOJ and observe a mandatory waiting period before they close the transaction. The waiting period is 30 calendar days, except for cash tender offers and certain bankruptcy transactions, when the waiting period is 15 days. The parties may request early termination of the waiting period to be able to complete the transaction faster, and the enforcement agencies may grant the request if they determine that the transaction is unlikely to substantially lessen competition. Early termination notices are made public in the FTC’s Legal Library soon after the parties are notified.