News & Analysis as of

Interlocking Directorate Antitrust Provisions Department of Justice (DOJ)

A&O Shearman

2025 increases to HSR notification thresholds, filing fees, interlocking directorate thresholds, and HSR penalties

A&O Shearman on

The Federal Trade Commission (FTC) has announced increases to the notification thresholds and premerger filing fees under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, which requires premerger notification of...more

Dorsey & Whitney LLP

Increase in HSR Reportability Thresholds and Filing Fees, and Other HSR Developments

Dorsey & Whitney LLP on

These announcements come alongside the impending overhaul of the Hart-Scott-Rodino (HSR) Act filing process scheduled to take effect on February 10, 2025—subject to potential delay based on President Trump’s January 20, 2025...more

Wilson Sonsini Goodrich & Rosati

Agency Guidance for Avoiding “Interlocking” Directors and Officers

The U.S. Department of Justice (DOJ) and Federal Trade Commission (FTC) (collectively, the U.S. Antitrust Agencies) have recently reinvigorated antitrust enforcement against company “interlocks”—i.e., when a director or...more

BCLP

Disconnecting Companies: DOJ and FTC Push for Broader Interlocking Directorate Liability

BCLP on

On January 10, 2025, the Department of Justice and the Federal Trade Commission filed a statement of interest in Musk v. Altman, signaling a late push by the government to expand the scope of liability for interlocking...more

Perkins Coie

2025 Updates to HSR and Interlocking Directorate Thresholds

Perkins Coie on

The Federal Trade Commission (FTC) recently announced its annual adjustments to (1) the pre-merger notification thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act), (2) the HSR Act filing...more

McCarter & English, LLP

2025 Updates to US Merger Filing Thresholds, Filing Fees, and Interlocking Directorate Exemptions

The Federal Trade Commission (FTC) announced on January 10, 2025, increased reporting thresholds for transactions. Annually, the FTC reviews and adjusts the premerger notification reporting thresholds for reporting...more

Vinson & Elkins LLP

2025 Annual Updates to the United States Pre-Merger Notification (HSR Act) and Interlocking Directorates Thresholds

Vinson & Elkins LLP on

The Federal Trade Commission (“FTC”) has revised the thresholds that govern pre-merger notification requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), and Section 8 of the...more

Bass, Berry & Sims PLC

New HSR Form Brings Significant Impact for Deals: A Deep Dive into What Has Changed

Bass, Berry & Sims PLC on

On October 10, the Federal Trade Commission (FTC) and Department of Justice (DOJ) (the Antitrust Agencies) finalized and released significant updates to the Hart-Scott-Rodino (HSR) premerger notification form. The updates are...more

A&O Shearman

FTC and DOJ Finalize New HSR Rules (Updated November 12, 2024)

A&O Shearman on

Democratic Commissioners Swung for the Fences, but FTC Settles for Unanimous Revisions, Still Increasing Burden on Filers - On October 10, 2024, all five Federal Trade Commission (“FTC”) Commissioners, with concurrence...more

Cadwalader, Wickersham & Taft LLP

The Biden Administration’s “Extensive Review of Interlocking Directorates Across the Entire Economy” May Put Your Board...

The identification, investigation and removal of persons who serve as directors or officers of two competing companies (i.e., “horizontal interlocks”) is a significant component of the Biden Administration’s antitrust...more

Jenner & Block

U.S. Antitrust Agencies Propose Sweeping Changes to the HSR Premerger Notification Program

Jenner & Block on

On June 27, 2023, the Federal Trade Commission (“FTC”) in collaboration with the Department of Justice (“DOJ”) announced a proposal to overhaul the Hart-Scott-Rodino (HSR) Act premerger notification program. If adopted, the...more

Faegre Drinker Biddle & Reath LLP

New HSR Act Size-of-Transaction Increasing to $119.5 Million; Filing Fee Increases Going Into Effect Soon

On January 22, 2024, the Federal Trade Commission (FTC) published its adjusted reporting thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act). The FTC revises the HSR Act thresholds...more

Vinson & Elkins LLP

Antitrust Issues in Renewable Energy - November 2023

Vinson & Elkins LLP on

Participants in the renewable energy industry should be aware of antitrust and competition rules because renewable energy is no longer a nascent field. Europe generated almost 40% of its electricity from renewable sources in...more

Latham & Watkins LLP

Enforcement of “Interlocking Directorates” Accelerates With DOJ-Announced Resignations and FTC Consent Agreement

Latham & Watkins LLP on

Companies should take a proactive approach as US antitrust agencies continue to enforce Section 8 of the Clayton Act. The Federal Trade Commission (FTC) and the US Department of Justice (DOJ) Antitrust Division (the...more

Goodwin

US Antitrust Regulators Continue to Crack Down on Interlocking Directorates, and the FTC Expands Scope of Clayton Act to...

Goodwin on

On August 16, 2023, the Federal Trade Commission (FTC) announced an agreement with natural gas producer EQT Corporation (EQT) and private equity firm Quantum Energy Partners (Quantum) to resolve concerns stemming from alleged...more

BakerHostetler

Report from the 2023 ABA Antitrust Section Annual Conference - Criminal Updates and Developments

BakerHostetler on

In late March, attendees gathered in Washington, D.C., for the ABA Antitrust Law Section’s 71st Annual Spring Meeting, including officials from state, federal and international antitrust enforcement agencies. These enforcers...more

Faegre Drinker Biddle & Reath LLP

DOJ Continues “Vibrant Section 8 Enforcement” to Purge Companies of Potentially Anticompetitive Interlocking Directorates

In March 2023, the Department of Justice’s Antitrust Division (DOJ) announced that five additional directors have resigned from four corporate boards in response to the DOJ’s efforts to enforce prohibitions against so-called...more

Epstein Becker & Green

DOJ’s Antitrust Division Continues Its Pursuit of Overlapping Directorates

Epstein Becker & Green on

On March 9, 2023, the Antitrust Division of the U.S. Department of Justice (DOJ) announced that five directors resigned from four separate corporate boards and that another corporation declined to exercise its board...more

Akin Gump Strauss Hauer & Feld LLP

Congress Urges FTC Scrutiny of the Life Sciences Industry: Will This Be a New Chapter in the Administration’s Drug Pricing...

On February 13, 2023, U.S. Senate Majority Whip Dick Durbin (D-IL), Chair of the Senate Judiciary Committee, sent a letter to the Antitrust Division of the Department of Justice (DOJ) and the Federal Trade Commission (FTC)...more

Schwabe, Williamson & Wyatt PC

FTC Announces Increase in Filing Thresholds Under the Hart-Scott-Rodino Act for 2023 for Premerger Notifications and Interlocking...

HSR Notice Thresholds Have Increased. On January 26, 2023, the Federal Trade Commission (FTC) announced its revised annual threshold that determines whether companies may be required to notify federal antitrust authorities...more

Cooley LLP

New Hart-Scott-Rodino Act Thresholds and Filing Fees Announced

Cooley LLP on

The Hart-Scott-Rodino (HSR) Act thresholds, which govern when acquisitions must be reported to the Department of Justice and Federal Trade Commission, will increase slightly more than 10% in February 2023. The minimum...more

Faegre Drinker Biddle & Reath LLP

New HSR Act Size-of-Transaction Increasing to $111.4 Million; New HSR Act Filing Fees Going Into Effect Next Month

On January 26, 2023, the Federal Trade Commission (FTC) published its adjusted reporting thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act). The FTC revises the HSR Act thresholds...more

A&O Shearman

UPDATE: FTC’s Updated Filing Fees, Increased HSR Thresholds and Increased Interlocking Directorate Thresholds for 2023

A&O Shearman on

The new Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) thresholds will go into effect on February 27, 2023 and will apply to all transactions closing on or after that date. As previewed in...more

Latham & Watkins LLP

Annual HSR Threshold Adjustments Announced for 2023

Latham & Watkins LLP on

FTC adjusts the Hart-Scott-Rodino Act size thresholds, raising the minimum size for reportable acquisitions to $111.4 million. On January 23, 2023, the Federal Trade Commission (FTC) announced new jurisdictional thresholds...more

Hogan Lovells

New HSR and interlocking directorate thresholds announced for 2023

Hogan Lovells on

On 23 January 2023, the Federal Trade Commission (FTC) announced the annual jurisdictional adjustments for premerger notification filings made pursuant to Section 7A of the Clayton Act, known as the Hart-Scott-Rodino...more

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