News & Analysis as of

Hart-Scott-Rodino Act Federal Trade Commission (FTC) Reporting Requirements

The Hart-Scott Rodino Antitrust Improvements Act is a United States federal statute enacted in 1976 establishing the federal premerger notification program. Under the Act, parties contemplating mergers or... more +
The Hart-Scott Rodino Antitrust Improvements Act is a United States federal statute enacted in 1976 establishing the federal premerger notification program. Under the Act, parties contemplating mergers or acquisitions must notify the Department of Justice and the Federal Trade Commission prior to completing the transaction. Once notified, the DOJ and FTC investigate and make a determination as to whether the proposed transaction will adversely impact U.S. commerce and competition within the market. less -
Wilson Sonsini Goodrich & Rosati

FTC Issues $1 Million Civil Penalty for HSR Act Violation

While companies wait for the new Hart-Scott-Rodino (HSR) Act filing requirements to be finalized, the Federal Trade Commission (FTC) made headlines by filing an enforcement action against and obtaining nearly $1 million in...more

Jenner & Block

Client Alert: FTC Announces 2024 HSR Thresholds

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The annual revisions to the Hart-Scott-Rodino (HSR) Act reporting thresholds have arrived. The new thresholds for notification will apply to all transactions that close on or after the effective date of the notice, which is...more

Paul Hastings LLP

Public Company Watch: October 2023

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In the October edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC adopting rules modernizing beneficial ownership reporting and short sale reporting, and issuing new C&DIs...more

Proskauer Rose LLP

Question of the Week: What do companies need to know if the Federal Trade Commission's proposed merger review changes are...

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“Merger review is about to get thornier. While the FTC and DOJ have been tightening the merger review process incrementally over the course of the Biden administration, the newly proposed HSR rule changes represent a...more

Proskauer Rose LLP

M&A Deals Face Additional Scrutiny under the FTC's New HSR Reporting Rules

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On June 29, 2023, the Federal Trade Commission published a Notice of Proposed Rulemaking that would dramatically expand HSR reporting requirements. The historic changes fundamentally alter the HSR reporting landscape,...more

Sheppard Mullin Richter & Hampton LLP

Notice of Proposed Rulemaking: FTC Proposes to Redesign and Dramatically Expand the Scope of the HSR Act Filing Process

The FTC announced today a notice of proposed rulemaking (“NPRM”) proposing extensive revisions to both the rules that implement the Hart-Scott-Rodino Antitrust Improvements Act (the “Act” or “HSR Act”), and the Premerger...more

Epstein Becker & Green

Return of Early Termination of the HSR Waiting Period Not on the FTC’s Agenda, According to Commissioner Phillips

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Parties to a transaction subject to the reporting requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) must adhere to a statutory waiting period (30 days for most transactions) after filing their...more

Perkins Coie

FTC Announces 2022 Changes to HSR and Clayton Act Thresholds

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The Federal Trade Commission (FTC) recently announced that the reporting thresholds under Section 7A of the Clayton Act, known as the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 (the Act), will be increased....more

Lowenstein Sandler LLP

Federal Trade Commission Announces Higher 2022 HSR Thresholds

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The Federal Trade Commission has announced new, nearly 10 percent higher premerger notification thresholds that will take effect February 23, 2022, and thus apply to transactions closing on or after that date. The new minimum...more

Goodwin

2022 HSR Thresholds Announced: $101 Million

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As required by the HSR Act, on January 21, 2022, the U.S. Federal Trade Commission (“FTC”) released its annual adjustments to the reporting thresholds. The key number to remember is now $101 million. Note, this is an increase...more

Akin Gump Strauss Hauer & Feld LLP

Bureau of Competition Rescinds Treatment of Debt as Consideration under the Hart-Scott-Rodino Antitrust Improvements Act

Key Takeaways - Prior informal interpretations from the Premerger Notification Office have permitted companies to exclude debt paid off at closing from the calculation of the statutory size of transaction test, under...more

Perkins Coie

FTC Announces 2021 Changes to HSR and Clayton Act Thresholds, Temporarily Suspends Early Termination

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The U.S. Federal Trade Commission (FTC) recently announced reporting thresholds under Section 7A of the Clayton Act, known as the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 (the Act), will decrease. The Act...more

Dorsey & Whitney LLP

FTC Temporarily Suspends Early Terminations

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The FTC and DOJ announced today the temporary suspension of the practice of granting “early termination” of the HSR waiting period. In other words, for the time being, you should assume that any reportable transaction will...more

White & Case LLP

FTC Announces Annual Changes to HSR Thresholds (2021) - HSR Thresholds Decline for the First Time Since 2010

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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

King & Spalding

Proposed HSR Rule Changes to Increase Investment Fund Reporting, Exempt Minority Acquisitions by Activist Investors

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On Monday, September 21, 2020, the Federal Trade Commission, with the support of the Department of Justice’s Antitrust Division, proposed changes to the rules governing merger notification under the Hart-Scott-Rodino Act of...more

Hogan Lovells

FTC uses “study authority” to review past non-HSR acquisitions

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On 11 February 2020 Federal Trade Commission (FTC) announced that it has issued Special Orders to five large technology firms requiring them to “provide information about prior acquisitions not reported to the antitrust...more

Orrick - Antitrust Watch

No HSR Filing Means No Antitrust Issues? Think Again!

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My transaction does not require an HSR filing. That means we don’t have to worry about potential antitrust issues, right? WRONG. The HSR Act requires that parties to certain transactions submit a premerger notification...more

Jones Day

Antitrust Alert: New Product Codes Required in HSR Filings Starting September 25

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The Federal Trade Commission ("FTC") announced changes to the Hart-Scott-Rodino ("HSR") Premerger Notification Rules relating to Item 5 of the HSR Form that take effect starting September 25, 2019. Item 5 currently requires...more

Locke Lord LLP

HSR Reporting Requirements: They Can Apply to Conversions of Voting Securities, Too

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Most corporate lawyers and investment professionals are probably familiar with the reporting requirements that apply to large corporate mergers and acquisitions. Under the Hart-Scott-Rodino Antitrust Improvements Act of 1976...more

Jones Day

Transaction "Designed" to Evade Merger Control Leads to U.S. and EU Penalties

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The Development: Antitrust authorities in the United States and European Union have assessed penalties and fines against Canon, and in the United States, Toshiba, for structuring a transaction to avoid premerger notification...more

McDermott Will & Emery

The Latest: Changes Coming to Revenue Reporting for HSR Filings

What Happened: • The Federal Trade Commission (FTC), along with the Antitrust Division of the Department of Justice (DOJ), approved amendments to the Hart-Scott-Rodino (HSR) Rules and the instructions for completing the HSR...more

Perkins Coie

Companies Fined for Evading HSR Premerger Notification and Waiting Requirements

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The U.S. Department of Justice (DOJ) announced earlier this month that Canon and Toshiba agreed to each pay $2.5 million to settle allegations that they schemed to avoid complying with Hart-Scott-Rodino Act (HSR) antitrust...more

Ballard Spahr LLP

$5 Million Penalty Underscores Importance of Antitrust Compliance in M&A Transactions

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The Federal Trade Commission (FTC) announced yesterday that Canon Inc. and Toshiba Corporation agreed to pay a $2.5 million fine each to settle charges that the two companies violated the Hart-Scott-Rodino Act by failing to...more

Smith Anderson

New HSR Reporting Thresholds Announces for 2019

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The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) requires parties to transactions meeting certain size thresholds to make notification filings with the Federal Trade Commission and the Antitrust Division of the...more

Womble Bond Dickinson

FTC Announces Revised HSR Thresholds for 2019

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The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) requires that parties to significant mergers, acquisitions, or other transactions notify the Federal Trade Commission (“FTC”) and the Department of Justice...more

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