The Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds – effective for deals closing on or after March 6, 2024 – and updated filing fee thresholds, effective...more
2/9/2024
/ Acquisitions ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Hart-Scott-Rodino Act ,
Mergers ,
Pre-Merger Filing Requirements ,
Section 8 ,
Size of Persons Test ,
Size of Transaction Test ,
The Clayton Act ,
Threshold Requirements
On December 18, 2023, the Department of Justice ("DOJ") and Federal Trade Commission ("FTC") published in final form the long-awaited 2023 Merger Guidelines. The final 2023 Merger Guidelines adopt—with some significant...more
The US federal government is at risk of a partial shutdown unless Congress can enact appropriations to fund certain federal operations by September 30, 2023. Both the Department of Justice (DOJ) and Federal Trade Commission...more
White & Case Global Antitrust Merger StatPak (WAMS)—the first real-time clearinghouse for global merger notification data—has analyzed merger notifications in reporting jurisdictions around the first half of calendar year...more
9/28/2023
/ Acquisitions ,
Competition ,
Competition Authorities ,
EU ,
Global Dealmaking ,
Merger Controls ,
Mergers ,
OECD ,
Popular ,
Pre-Merger Filing Requirements ,
UK
The Proposed Merger Guidelines represent the DOJ's and the FTC's aggressive scrutiny of mergers. As one of the most important reflections of policy the Antitrust Agencies use to analyze transactions, the Proposed...more
If the proposed rule is finalized, merging parties will face expansive requirements for HSR filings and lengthy filing preparation times.
On June 27, 2023, the US Federal Trade Commission ("FTC"), with the concurrence of...more
The Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds – effective for deals closing on or after February 27, 2023 – and the new HSR merger filing fees....more
1/27/2023
/ Acquisitions ,
Antitrust Division ,
Civil Monetary Penalty ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Hart-Scott-Rodino Act ,
Interlocking Directorate ,
Mergers ,
Pre-Merger Filing Requirements ,
Premerger Notifications ,
Section 8 ,
Size of Persons Test ,
Size of Transaction Test ,
The Clayton Act ,
Threshold Requirements
Filing fees under the Hart-Scott-Rodino (HSR) Act have not been altered for 20 years, but that is about to change, and dramatically in 2023. President Biden is expected to sign into law the Consolidated Appropriations Act,...more
12/28/2022
/ Biden Administration ,
Consolidated Appropriations Act (CAA) ,
Corporate Counsel ,
Domestic Dealmaking ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Foreign Entities ,
Global Dealmaking ,
Hart-Scott-Rodino Act ,
Mergers ,
Pre-Merger Filing Requirements ,
Proposed Regulation
Australia, Brazil, Saudi Arabia, and Turkey See Significant Surge in Merger Filing Activity; US and EU Merger Filing Activity is Down Compared to 2021's Record Levels, But Still Above Historical Levels -
White & Case...more
12/20/2022
/ Acquisitions ,
Antitrust Division ,
Australia ,
Biden Administration ,
Brazil ,
Competition ,
EU ,
EU Horizontal Safeguard Regulation (HSR) ,
European Commission ,
Investigations ,
Merger Controls ,
Mergers ,
Pre-Merger Filing Requirements ,
Russia ,
Saudi Arabia ,
Turkey ,
Ukraine
...Key Highlights -
According to WAMS data, US merger control filing activity has cooled off: H1 2022 merger filing activity is down 23 percent versus H1 2021. However, US HSR filings in H1 2022 are 47 percent above the...more
7/19/2022
/ Acquisitions ,
Austria ,
Brazil ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
European Merger Control Regulation ,
Federal Trade Commission (FTC) ,
Germany ,
Merger Controls ,
Mergers
On October 25, 2021, a deeply divided FTC voted 3-2 to enact a major policy change relevant to every party involved in settling a merger investigation with the FTC. Earlier this year, the FTC signaled its intent to bring back...more
Many jurisdictions in South America have enhanced their enforcement of antitrust rules in the past decade. Brazil has consolidated its position as a significant jurisdiction in terms of antitrust enforcement globally....more
An interactive guide to merger control activity in South America -
Merger control in South America is on the rise, with many new jurisdictions having adopted and started to enforce stricter pre-closing merger control laws...more
On Tuesday, August 3, 2021, the Federal Trade Commission announced a new approach for merger investigations that the FTC does not complete during the Hart-Scott-Rodino Act (HSR) waiting period—the FTC may advise merging...more
8/6/2021
/ Acquisitions ,
Antitrust Provisions ,
Buyers ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Investigations ,
Mergers ,
Sellers ,
Waiting Periods ,
Warning Letters
On February 1, 2021, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds.
The FTC is required by law to revise the jurisdictional thresholds...more
Bankruptcy can provide important advantages to companies considering M&A activity today. M&A purchases of bankrupt companies obviously often feature significantly depressed valuations and a small universe of potentially...more
DOJ Antitrust Division successfully uses private-style arbitration for first time to block a merger, and force a divestiture as a condition to closing.1 DOJ’s novel use of arbitration to resolve liability in a merger case has...more
Last week, in response to the outbreak of the Coronavirus disease (COVID19), the antitrust agencies in the United States and European Union issued policies that will affect, and may delay, merger filings and reviews. ...more
3/17/2020
/ Antitrust Division ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Electronic Filing ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Merger Reviews ,
Mergers ,
Premerger Notifications ,
Risk Mitigation
On January 28, 2020, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds....more
1/29/2020
/ Acquisitions ,
Antitrust Provisions ,
Business Valuations ,
Civil Monetary Penalty ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Hart-Scott-Rodino Act ,
Mergers ,
Pre-Merger Filing Requirements ,
Premerger Notifications ,
Size of Persons Test ,
Size of Transaction Test ,
Threshold Requirements
The US M&A market delivered a surprisingly robust first half, with total value rising 9 percent year-on-year. Volume, on the other hand, dipped 21 percent.
Defying all odds, US M&A value rose in the first half of 2019....more
On February 15, 2019, the Federal Trade Commission (FTC) announced the annual changes to the Hart-Scott-Rodino (HSR) Act notification thresholds.
The FTC is required by law to revise the jurisdictional thresholds annually,...more