Congress has passed-and President Biden is expected to sign into
law today-the Merger Filing Fee Modernization Act, which will
significantly change antitrust merger notification regulations
under the Hart-Scott-Rodino Act (HSR Act), 15 U.S.C. § 18a.
Included in the changes is language substantially altering the
framework for the filing fee amounts and the deal value thresholds
triggering those HSR filing fees.
Per a press release from Senator Amy Klobuchar (D-MN), the
changes will go into effect in 2023. We will update when we have
more clarity on timing.
In addition to the filing fee changes, the legislation imposes a
new obligation to report with an HSR filing information on foreign
subsidies from certain foreign governments, noted as
"adversaries." We will have to see how the Federal Trade
Commission (FTC) and the US Department of Justice implement this
requirement in a revision to the HSR form and instructions.
