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The waiver claim cannot be cancelled. If a trade is not completed and the waiving team does not cancel the waiver during the second 72 hour period they forfeit the player with NO compensation:4) A decision on the player must be made within 72 hours of the claim. If, within such a time frame, an agreement wasn't posted by both parties NOR was the waive canceled by the waiving team, then the player's contract is considered to moved to the claiming team in exchange for nothing.
Aoki pulled off waivers.