DOJ And FTC Release Final Rule Expanding HSR Premerger Filing Requirements

In Short

The Development: The Federal Trade Commission ("FTC") unanimously issued a final rule expanding the requirements of premerger filings under the Hart-Scott-Rodino Antitrust Improvements ("HSR") Act of 1976. The HSR Act requires parties to certain mergers and acquisitions to make premerger notification filings with U.S. Department of Justice ("DOJ") and FTC, and to observe statutory waiting periods, prior to consummating their transaction.

The Significance:  The final rule is a compromise that pares back many administrative burdens in the FTC's June 2023 draft rule. The Commission eliminated some of the more onerous requirements, including production of drafts of documents analyzing the deal, labor market information, and certain ordinary course documents.