On June 27, 2023, the Federal Trade Commission (FTC) announced a proposal for a radical overhaul to the Hart-Scott-Rodino (HSR) premerger notification program that, if adopted, would dramatically...
United StatesAntitrust/Competition Law
On June 27, 2023, the Federal Trade Commission (FTC) announced a proposal for a radical overhaul to the
Hart-Scott-Rodino (HSR) premerger notification program that, if
adopted, would dramatically increase costs, burden and the time
required to prepare filings for transactions that must be notified
to the government. Under the HSR Act, parties to transactions are
required to notify the FTC and the Department of Justice (DOJ) of
most transactions valued above the size-of-transaction threshold
– currently $111.4 million – and observe a waiting
period before closing.
The HSR premerger notification program allows the FTC and DOJ to
review transactions that meet the statutory thresholds to determine
whether to investigate any particular transaction that may
substantially reduce competition. For transactions that raise
serious substantive antitrust concerns, the government may request
additional information by issuing a "second request,"
which extends the waiting period
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