Beverly J. Ang is a counsel with Dechert. She focuses her practice on antitrust and competition matters; specifically, advising clients on the applicability of the Hart-Scott-Rodino (HSR) Act and obtaining required premerger clearances. Prior to joining Dechert, Ms. Ang served as an associate in the M&A and securities group at another international law firm, where she also worked on issues pertaining to HSR Act compliance and merger control. Specialist in merger control and governmental clearances for complex U.S. and cross-border mergers, acquisitions, divestitures and restructurings, specifically focusing on analysis and compliance with the Hart-Scott-Rodino (HSR) Act and other competition and foreign investment laws worldwide.
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Key takeaways The newly enacted Merger Filing Fee Modernization Act significantly changes filing fees for HSR filings. The changes are expected to take effect in 2023; the exact date is still to be announced. Applicable HSR filing fees for many transactions valued under US$1 billion will (...)
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Key Takeaways Following a pandemic-induced decline in 2021, higher dollar thresholds in 2022 reflect renewed growth in economic activity during the past year. Annual adjustments to dollar-based HSR reporting thresholds expected to go into effect on or about February 23, 2022. Similar upward (...)
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Key takeaways Small incremental acquisitions may require HSR filings and the HSR waiting period to be observed. Subsequent acquisitions of a small amount of the same issuer’s voting securities after the HSR requirements have been satisfied may still require additional HSR filings. Even the (...)
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Key Takeaways Companies should anticipate waiting a full 30 days for the HSR waiting period to expire for all transactions that have recently been notified or are soon-to-be notified under the Hart-Scott-Rodino Act (“HSR Act”). It is not clear how long this suspension of Early Terminations (...)
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Key takeaways Rare decrease in filing thresholds for 2021 due to recession; first time since 2010. Annual adjustments to dollar-based HSR reporting thresholds to go into effect on or about March 4. Similar downward adjustment to thresholds for director interlocks under Section 8 of the Clayton (...)
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Key Takeaways Proposed HSR rule changes would require an acquiring fund to aggregate its holdings with those of its broader fund family. This will substantially increase the number of transactions subject to HSR reporting requirements, especially for asset managers and private equity funds. (...)
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On January 27, 2020, the U.S. Federal Trade Commission ("FTC") announced in the Federal Register that the dollar-based thresholds applicable to the Hart-Scott-Rodino (“HSR”) premerger notification program will be raised about 4.4 percent from the 2019 levels. As a result, the HSR minimum (...)
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HSR Filing Threshold Increases to US$84.4 Million HSR Act or Rule Provision2018 Indexed Value US$50 million size-of-transaction test US$84.4 million US$200 million size-of-transaction test US$337.6 million US$100 million size-of-person test US$168.8 million US$10 million size-of-person (...)
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HSR Filing Threshold Increases to US$80.8 Million HSR Act or Rule Provision2017 Indexed Value US$50 million size-of-transaction test US$80.8 million US$200 million size-of-transaction test US$323.0 million US$100 million size-of-person test US$161.5 million US$10 million size-of-person (...)
