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ARTICLE · 20 FEBRUARY 2026

Recent Developments In U.S. Merger Enforcement: HSR Rule Overturned And Leadership Changes At DOJ Antitrust Division

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In October 2024, the FTC adopted a final rule that substantially modified the HSR form, requiring new categories of information and documents. The final rule was the most significant overhaul of the HSR premerger...

United StatesAntitrust/Competition Law
Megan L. Wolf
Megan L. Wolf
Lauren T. Fleming
Lauren T. Fleming
Ashley McMahon
Ashley McMahon
Connor Ahearn
Connor Ahearn
Luke Taeschler
Luke Taeschler

What You Need to Know

  • Key takeaway #1

    A federal judge in the Eastern District of Texas vacated and set aside the FTC's 2024 overhaul of the HSR premerger notification form. If the government does not appeal the decision, or the U.S. Court of Appeals for the Fifth Circuit does not grant emergency relief if appealed, the new HSR rules will be vacated as of February 19, 2026. Merging parties would then revert to using the form and procedures under the previous rules.
  • Key takeaway #2

    Separately, DOJ's assistant attorney general for antitrust, Gail Slater, departed amid reported internal disputes with more senior DOJ officials.
  • Key takeaway #3

    Together, these developments point toward the potential for near-term easing of the procedural burdens associated with merger filings but continued substantive enforcement volatility, with high-profile matters likely to be decided with close involvement of DOJ and even White House leadership.

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