Kyodo News reported that the Japanese Fair Trade Commission received a report on Friday from BHP Billiton Ltd regarding the mining giant’s bid to acquire rival Rio Tinto Ltd in response to its legally binding request.

Japan’s antimonopoly regulator made a formal request in September to BHP Billiton to provide information on the takeover bid out of concern that the merger, if realized, could go against the principle of fair competition.

A FTC official said that “After scrutinizing the report, the FTC will decide whether the planned merger will constitute violation of the antimonopoly law.”

BHPB could be slapped with a cease and desist order and face penalties if the commission concludes that the planned merger breaches the country’s antimonopoly regulations.