FTC Issues New Rules For HSR Premerger Notification Filings

On October 10, 2024, the Federal Trade Commission (FTC) voted unanimously to adopt new rules for the premerger notification form and reporting process under the Hart-Scott-Rodino (HSR) Act. The new rules expand the scope of information that transacting parties must disclose with their premerger notification form, and will become effective 90 days after publication in the Federal Register, which likely means an effective date in mid-January 2025. The FTC also announced that it will lift its suspension on the ability of parties to request early termination of the 30 day waiting period once these new rules become effective.

The new rules overhaul the HSR reporting process and are intended to provide the FTC and U.S. Department of Justice (DOJ) more information at the start of the review process that traditionally may have come only through access letters or second requests. The approach appears to dovetail with the 2023 Merger Guidelines, as transacting parties will be