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Business Articles Awards > Mergers

Responding To Second Requests In The Era Of Big Data

Matthew P. List, Law360, March 2016

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Despite reforms undertaken by both the U.S. Department of Justice and the
Federal Trade Commission (collectively the “agencies”), complying with a second
request remains a costly and time-intensive process. A recent survey found that
the median cost of compliance was $4.3 million, although this likely understates
the true cost because it does not capture the costs associated with employees of
the merging parties being distracted from their usual business duties as they work
to comply with the agencies’ requests.[1] Although second requests require the
production of large volumes of both documents and data, compliance with the
data-intensive specifications can be particularly challenging. The sheer volume and
scope of data demanded in a second request can be staggering, but this burden
can be managed effectively by engaging with the legal and economics staff at the
agencies.

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