User:Stickguy/Deal is pending

Wikipedia editors sometimes refer to recently-announced mergers, acquisitions, sales, or other business transactions in the past tense, or make other changes (e.g. renaming or merging articles) in a way that suggests the deal has already been completed. However, in most cases, a newly-announced deal is pending various intermediate steps.

Usually it is made clear in a press release that the two parties have (for instance) "announced" or "agreed to" a certain transaction. The actual completion of the transaction will normally be announced in a later press release. Similarly, if a sale or merger has already been completed when it is first announced, this will be clearly noted in the release. (Note that for stylistic or other reasons, this distinction may not always be reflected in mainstream media reports.)

Many transactions require shareholder approval (if the company is publicly traded), approval of regulatory agencies, the completion of due diligence, the expiration of certain mandatory waiting periods, and other "customary closing conditions". It is therefore possible, although not always likely, that a proposed transaction will be derailed by such issues as competition concerns, a superior offer from another bidder, or a misrepresentation by one of the parties if it is discovered prior to completion.

In the United States and Canada, all transfers of radio and over-the-air television stations, and in some cases other media outlets, must be approved by the Federal Communications Commission (FCC) or Canadian Radio-television and Telecommunications Commission (CRTC) respectively. This may be a lengthy process even if the deal itself does not raise any obvious competitive or policy concerns.

Example

• Incorrect: "On May 14, 2007, DaimlerChrysler sold its Chrysler unit to Cerberus Capital Management."
• Correct: "On May 14, 2007, DaimlerChrysler announced plans to sell its Chrysler unit to Cerberus Capital Management."