IBM-HashiCorp Deal Receives Second FTC Antitrust Review Request (NYSE:IBM)

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HashiCorp (NASDAQ:HCP) and IBM (NYSE:IBM) confirmed receipt of a second information request from the Federal Trade Commission relating to its antitrust investigation into their merger.

In late April, IBM agreed to buy HashiCorp for $35 per share in cash. On Friday, the regulator’s second request was disclosed, indicating that it would extend the waiting period for approval to 30 days after both companies substantially comply with the request.

HashiCorp recently said it expects the deal to close by the end of the year. IBM expects the acquisition of the company, which specializes in multi-cloud infrastructure automation technology, to bolster its own hybrid cloud and software management capabilities.

HashiCorp (HCP) down 1.57% before the market opens on Monday.