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Technology Stocks : Platinum Technology
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To: David C. Burns who wrote (4109)5/21/1999 3:14:00 PM
From: Doughboy  Read Replies (1) of 4148
 
If I can chime in, it's purely for legal reasons. The Department of Justice or FTC (whichever has jurisdiction in this case), has to sign off on all merger deals of a certain size. Though they operate under statutory deadlines, they are easily extended by seeking the consent of the parties to the merger for an extension or by slapping the parties with supplemental document requests. (Every time a document request goes out, the clock starts running anew.) The agency gives the merger parties some ballpark date for a decision but is not always accurate. What is strange to me is that CA extended the tender only 2 days last time. What was the point of that? I assumed it meant that they were positive that the regulatory review would be done by then. Apparently not.

Doughboy.
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