Hart-Scott-Rodino And Interlocking Directorates Thresholds Ratchet Up

Revised thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (15 U.S.C. § 18a) (HSR) and Section 8 of the Clayton Act (15 U.S.C. § 19) were published in the Federal Register on January 21, 2015. The thresholds for these statutes are adjusted once a year based upon changes in the gross national product. For HSR purposes, the revised thresholds will apply for transactions that close on or after February 20, 2015. For Section 8 purposes, the revised thresholds are effective January 21, 2015.

Size-of-the-Transaction Test
(Original: $50 million; New as of February 20, 2015: $76.3 million)

The 2000 HSR amendments raised the size-of-the-transaction test to $50 million. This figure is currently $75.9 million based upon the 2014 annual adjustment. On February 20, 2015, it will increase to $76.3 million — a change of less than one percent. Accordingly, for transactions that close on or after February 20, 2015, no HSR filing will be required unless the