In the Press
December 2, 2022

Feds Slow-Walk Private Equity Transactions (The Deal)

Private equity firms under the microscope in Washington for their M&A strategies are employing a time-tested strategy to cross the finish line: withdrawing and resubmitting transaction paperwork to federal enforcers. “There are significantly more frequent pull and refiles in the last two years than in the past,” said Arman Oruc, co-chair of the Antitrust & Competition practice. “That means a waiting period looks more like a 60-day waiting period as opposed to a 30-day waiting period, and that has significant consequences in many deals.” Andy Lacy, co-chair of the Antitrust & Competition practice, confirmed the trend to The Deal. “We’re seeing more questions that seem to be probing about the private equity model,” especially goals for subsequent transactions, he said.