If there is no up front buyer, how much time will the parties get to divest?
In recent cases, the Commission has required that all divestitures be completed within 3 to 6 months from the date the parties sign the Agreement Containing Consent Order. This means the respondent must find a buyer, negotiate a contract, submit that deal to the Commission for its approval, and complete the divestiture within that time. Respondent must submit its application early enough to allow for the 30-day public comment period (required by the Rules) and review by the Commission. If there is a buyer up front, the divestiture is required almost immediately upon consummation of the subject merger.
