FTC Proposes Amendments to the HSR Act Form

Major Changes Include Extending Coverage to Associates of the Acquiring Party and Expanding Scope of Request For Transaction-Related Documents

Amendments Likely to Increase Burden for Private Equity Firms and Other Filing Parties

The Federal Trade Commission ("FTC") has announced proposed modifications to the Form that must be submitted for reportable transactions subject to premerger notification under the Hart-Scott-Rodino Act of 1976 (the "HSR Act"). The HSR Act applies generally to certain acquisitions of assets and voting securities valued above the applicable size-of-transaction threshold (currently $63.4 million), and where relevant, size-of-party thresholds are satisfied and no exemption applies. The proposed amendments do not change the HSR reporting requirements themselves, but are limited to the categories and scope of information that must be submitted with the Form.