DOJ Reinstates Targeted Second Requests

On July 23, 2026, the DOJ announced that it is reinstating its use of targeted Second Request investigations to expedite merger reviews. The DOJ made use of targeted Second Requests before the Biden Administration on an ad-hoc basis. However, during the Biden Administration, the agency shifted away from the practice in favor of broad, document-intensive requests. According to Associate Attorney General Stanley E. Woodward Jr., the return of targeted Second Requests is designed “to eliminate bureaucratic burdens while still preserving the integrity of Second Request investigations.”

Under the HSR Act, mergers or acquisitions above certain transaction value thresholds must notify the FTC and the DOJ prior to consummating a reportable transaction. The HSR filing submission commences a 30-day waiting period during which the agencies will investigate the transaction. During this time, the agencies may request information from the parties pursuant to a voluntary access letter, which the