New Hart-Scott-Rodino Act Notification Thresholds

On January 13, 2006, the Federal Trade Commission ("FTC"), the agency charged with administering the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") and its filing requirements, approved the new annual HSR Act notification thresholds. The new thresholds, which are expected to be published in the Federal Register by late January 2006 and will become effective 30 days later, will be as follows:

The "size of transaction" threshold will increase from $53.1 million to $56.7 million. No HSR Act notification will be required if the value of voting securities and assets held as a result of the transaction is below this threshold.

The "size of parties" thresholds of $106.2 million in annual sales and $10.7 million in total assets will increase to $113.4 million and $11.3 million, respectively. For transactions valued at more than $56.7 million, no HSR Act notification will be required if the ultimate parent entities of one or both parties to the transaction