Solutions › Disputes & Investigations
Mergers & Acquisitions: Second Requests
Merger control investigations add to the intensity of M&A activities, as they often involve large custodial data sets spread across multiple global locations. This comes on top of existing pressures to bring transactions to a timely close.
FTI Technology has deep expertise in M&A Second Requests, based on a foundation of more than 100 successfully completed merger deals. We reduce datasets, conduct managed reviews to keep data secure, and identify the most important documents using advanced analytics. Our subject matter experts bring hands-on experience from every major region, having negotiated with regulatory bodies across the globe.
Our support covers all facets of the e-discovery process, including postproduction depositions and strategy development, and even expert witness testimony. With leading-edge technology, workflows, and the flexibility and ingenuity of our teams, we have all the elements necessary to handle the unique characteristics of each client’s project and help ensure timely and accurate productions to regulators – every time.
Stringent regulatory requirements for responding to M&A second request inquiries can often lead to highly compressed timelines which carry a significant risk of penalties or ‘stop the clock’ situations. Overwhelmed legal teams need a trusted partner with deep expertise to successfully navigate these issues and protect the value of their deals.
How we can help
Services
FTI’s antitrust services for law firms and corporations start with initial meetings with the legal teams to determine the scope and format of the project. FTI then develops and executes on required deadlines and review workflows, including performing complex data collection of emerging data formats in adherence to local data privacy laws, processing and hosting, presentation support and multiparty production throughout the life of the project.
Software
FTI leverages our clients’ preferred e-discovery platform to provide a flexible and cost-effective solution for U.S. Second Request, Canadian Supplementary Information Requests (SIR) and European Phase II Merger Control investigations. Our team is experienced with a broad range of legal review software, advanced data analytics and predictive coding techniques to quickly find relevant documents in a large dataset. When needed FTI can provide clients with supplemental software.
Team
The FTI team includes authorities on Second Request, SIR and Phase II merger control law and procedure, expert technologists and a skillful team of consultants and reviewers that work around the globe. Our experts have established relationships with numerous regulators, including the U.S. Department of Justice (DOJ), Federal Trade Commission (FTC), the Canadian Competition Bureau (CCB), EU Commission Directorate-General for Competition and U.K. Competition and Markets Authority (CMA).
Related Resources
Video
The Anatomy of a Second Request
Andrew Szwez discusses second requests and the challenges of emerging data sources.
Case Study
FTI Technology Leads Contract Analysis for Large Second Request
When a U.S.-based merger triggered a second request review, more than 18 million company documents were in scope as potentially relevant to the Federal Trade Commission’s review. The law firm representing one of the organizations sought FTI Technology for its expertise across the Digital Insights & Risk Management framework and the team’s ability to scale a global team of domain experts. Contract Solutions were one part of the broader engagement.
Case Study
After entering an agreement to a large and complex cross-jurisdictional merger, TGS and PGS positioned the outcome as a “stronger and more diversified geophysical company and data provider to the energy value chain,” with a reported valuation of more than US$860 million. The transaction spurred parallel merger control investigations initiated by the U.K. Competition & Markets Authority (CMA) and the Norwegian Competition Authority (NCA), requiring TGS to collect, review and produce internal documents. TGS engaged FTI Technology to lead discovery and document review to support the needs of the merger response. The CMA and NCA approved the deal, allowing TGS and PGS to complete the deal on 1 July 2024.
Elevate your position in antitrust-related challenges with FTI Consulting, the premier partner for companies, counsel, and government across industries and continents. Our dynamic blend of proactive strategies and reactive solutions empowers clients to navigate the complexities of antitrust law more seamlessly. With a proven track record in handling some of the world’s most significant antitrust investigations, litigation matters and merger reviews, our team of experts are ready to provide strategic insights and persuasive evidence in an ever-evolving regulatory framework.