As we reported in October, the Federal Trade Commission, with the concurrence of the United States Department of Justice Antitrust Division, have issued revised Hart-Scott-Rodino (HSR) premerger notification rules. These rules require parties to certain mergers, acquisitions, and joint ventures to file forms with the antitrust agencies and observe a waiting period (usually 30 days) before they can close their transaction.
For the last several weeks, we've been waiting for the rules to be published in the Federal Register so that the 90-day clock to the effective date could begin. The rules have been published in the November 12, 2024 issue of the Federal Register and will take effect on Tuesday, February 10, 2025. All HSR filings made before February 10, 2025 are governed by the current rules, and all filings made on or after February 10, 2025 will be governed by the new rules. As we've reported earlier, these rules will significantly increase the time and cost associated with HSR filings, and where possible, filers should begin taking steps now to prepare for the changes.
While we do not expect FTC Chair Lina Khan to remain in her role in the Trump administration, we do not believe that the new administration will have any impact on these new rules. The rules were adopted with bipartisan support of all five FTC commissioners.
