Sovos Brands, Campbell Soup receive second request for information from FTC

In a regulatory filing, Sovos Brands (SOVO) disclosed that on October 23, the company and Campbell Soup (CPB) each received a request for additional information, or the “Second Request,” from the U.S. Federal Trade Commission in connection with the FTC’s review of the transactions contemplated by the companies’ previously announced merger agreement. “Issuance of the Second Request extends the waiting period under the HSR Act until 30 days after both the company and Campbell substantially comply with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. The company and Campbell have been working cooperatively with the FTC and will continue to do so. The company now expects that the Merger will close in 2024, and the company will continue to engage with the FTC on its review with the objective of closing the Merger in mid-2024,” the filing stated.