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twitterRegulators request more information on megadeal
Tuesday, July 27, 2004 | 11:07 a.m.
MGM MIRAGE and Mandalay Resort Group have received a second request from the Federal Trade Commission for information on the companies' planned $8 billion merger.
The companies said in a joint statement that they intend to respond to the information request, which was not unexpected. MGM MIRAGE said the company still anticipates the transaction will be approved by the first quarter of 2005, the timeline originally stated when the companies announced the deal last month.
Under federal antitrust rules, the Federal Trade Commission has 30 days to look at a transaction to determine whether the agency needs additional information. The agency may make a second request for information, which extends the review period another 30 days.
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