On July 28 the Federal Trade Commission made a second request for information in their review of Clarivate’s pending $5.3 billion acquisition of ProQuest. Clarivate announced that as a result, the parties extended the outside date for completion of the deal to December 31. Both Clarivate and ProQuest “each have the option to extend the new outside date to April 29, 2022.” As we noted previously, second requests are generally issued for only 2 to 4 percent of Hart-Scott-Rodino transactions — and as law firm Winston & Strawn advised, “most Second Requests result in a settlement, litigation to block the transaction, or […]
