Client Alert: FTC and DOJ Propose Major Overhaul of HSR Premerger Notification Process
On June 27, 2023, the Federal Trade Commission (“FTC”) – with the concurrence of the Antitrust Division of the Department of Justice (“DOJ”) (together the “Agencies”) – announced a Notice of Proposed Rulemaking (“NPRM”) (available here) proposing major changes to the Hart-Scott-Rodino (“HSR”) Form and Instructions. The NPRM was issued pursuant to a 3-0 Commission vote. If implemented, the changes would significantly increase the scope of information and documents that must be submitted with an HSR filing, resulting in substantial additional time, cost, and burden to parties with reportable transactions in the U.S.
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