FTC Modifies Thresholds For HSR Merger Filings And Interlocking Directorates

The Federal Trade Commission ("FTC") published its annual revisions to the dollar jurisdictional thresholds in the Hart-Scott-Rodino Antitrust Improvements Act ("HSR Act"), and increased thresholds for interlocking directorates under Section 8 of the Clayton Act.

In a memorandum, Cadwalader attorneys explained that the HSR Act changes increase the dollar thresholds necessary to trigger premerger notification act reporting requirements. The HSR Act reporting requirements provide that certain parties involved in proposed mergers must report such proposed transactions to the FTC and the DOJ Antitrust Division. Parties that meet the thresholds required for premerger notifications must adhere to a waiting period before closing the transaction. The 2018 threshold mandates that transactions valued at $84.4 million or less are not reportable under the HSR Act. The Cadwalader attorneys outlined specific criteria for reportable transactions and the revised thresholds. The