The US DoJ and FTC announce proposed changes to the HSR premerger notification rules and seek public comments

The Federal Trade Commission (“FTC”) and the Antitrust Division of the Department of Justice (“DOJ”) (the “Agencies”) announced proposed changes to the premerger notification rules (“Rules”) promulgated under the Hart-Scott-Rodino (“HSR”) Act on September 21, 2020. Although the Agencies’ proposals are extensive, most significantly they would: 1. create a new exemption for certain acquisitions that result in holding 10% or less of the voting securities of a target, so long as the acquirer and target do not “already have a competitively significant relationship;” and 2. expand the definition of “person,” creating new filing obligations for certain entities, including many investment entities. The Agencies’ proposed new rules are described in a Notice of Proposed Rulemaking (“NPRM”). The Agencies also

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  • Covington & Burling (Washington)

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James R. Dean, The US DoJ and FTC announce proposed changes to the HSR premerger notification rules and seek public comments, 21 September 2020, e-Competitions September 2020, Art. N° 97014

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