diff --git a/tools/pr_overlap.py b/tools/pr_overlap.py
index 279006dba..e1497d7f7 100644
--- a/tools/pr_overlap.py
+++ b/tools/pr_overlap.py
@@ -115,14 +115,26 @@ def conflicts(a, b):
     return {path: [] if path in a["added"] else clashes(a, b, path) for path in files}
 
 
+def dependencies(prs, number):
+    found, pending = set(), [number]
+    while pending:
+        for n in prs[pending.pop()]["depends"]:
+            if n in prs and n not in found:
+                found.add(n)
+                pending.append(n)
+    return found
+
+
 def overlaps(prs, a, b):
     pa, pb = prs[a], prs[b]
-    if b in pa["depends"] or a in pb["depends"]:
+    da, db = dependencies(prs, a), dependencies(prs, b)
+    if b in da or a in db:
         return None
-    found = {"added": pa["added"] & pb["added"]}
+    shared = [prs[n] for n in da & db]
+    found = {"added": (pa["added"] & pb["added"]).difference(*(pr["added"] for pr in shared))}
     if pa["author"] != pb["author"]:
         found["conflicts"] = conflicts(pa, pb)
-        found["exports"] = pa["exports"] & pb["exports"]
+        found["exports"] = (pa["exports"] & pb["exports"]).difference(*(pr["exports"] for pr in shared))
     return found if any(found.values()) else None
 
 
diff --git a/tools/tests/test_pr_overlap_dependencies.py b/tools/tests/test_pr_overlap_dependencies.py
index f93bb828c..b8590858f 100644
--- a/tools/tests/test_pr_overlap_dependencies.py
+++ b/tools/tests/test_pr_overlap_dependencies.py
@@ -16,6 +16,23 @@ def pull_requests(body):
         return pr_overlap.open_prs("main")
 
 
+STACK = {
+    1: (set(), {"one.cpp"}, {"sceFooInit"}),
+    2: ({1, 999}, {"one.cpp", "two.cpp"}, {"sceFooInit"}),
+    3: ({2}, {"one.cpp", "two.cpp", "three.cpp"}, {"sceFooInit"}),
+    4: ({1}, {"one.cpp", "four.cpp"}, {"sceFooInit", "sceFooTerm"}),
+    5: ({1}, {"one.cpp", "four.cpp"}, {"sceFooInit", "sceFooTerm"}),
+    6: (set(), {"one.cpp"}, {"sceFooInit"}),
+    7: ({8}, {"one.cpp", "seven.cpp"}, {"sceFooInit"}),
+    8: ({7, 1}, {"one.cpp", "seven.cpp"}, {"sceFooInit"}),
+}
+
+
+def stacked_pull_requests():
+    return {number: {"author": f"author{number}", "depends": depends, "added": added, "exports": exports, "tree": None}
+            for number, (depends, added, exports) in STACK.items()}
+
+
 class DependencyTests(unittest.TestCase):
     def test_documented_form_without_colon(self):
         for body in ("Depends on #2.", "Depends on #2, #3.", "Depends on\t#2 and #3.",
@@ -95,5 +112,30 @@ class DependencyTests(unittest.TestCase):
         self.assertEqual(pr_overlap.overlaps(prs, 1, 2), {"added": {"shared.cpp"}})
 
 
+class StackedDependencyTests(unittest.TestCase):
+    def test_transitive_dependency_suppresses_overlap(self):
+        prs = stacked_pull_requests()
+        self.assertIsNone(pr_overlap.overlaps(prs, 1, 3))
+        self.assertIsNone(pr_overlap.overlaps(prs, 3, 1))
+
+    def test_changes_inherited_from_a_shared_dependency_are_not_overlap(self):
+        prs = stacked_pull_requests()
+        self.assertIsNone(pr_overlap.overlaps(prs, 3, 4))
+        self.assertIsNone(pr_overlap.overlaps(prs, 2, 4))
+
+    def test_overlap_beyond_a_shared_dependency_is_kept(self):
+        self.assertEqual(pr_overlap.overlaps(stacked_pull_requests(), 4, 5),
+                         {"added": {"four.cpp"}, "conflicts": {}, "exports": {"sceFooTerm"}})
+
+    def test_independent_pull_request_keeps_inherited_overlap(self):
+        self.assertEqual(pr_overlap.overlaps(stacked_pull_requests(), 3, 6),
+                         {"added": {"one.cpp"}, "conflicts": {}, "exports": {"sceFooInit"}})
+
+    def test_dependency_cycle_terminates(self):
+        prs = stacked_pull_requests()
+        self.assertIsNone(pr_overlap.overlaps(prs, 7, 8))
+        self.assertIsNone(pr_overlap.overlaps(prs, 8, 2))
+
+
 if __name__ == "__main__":
     unittest.main()