Overview The U.S. Federal Trade Commission (FTC) and U.S. Department of Justice Antitrust Division (“DOJ” and collectively, the “Agencies”) recently proposed changes [1] to two aspects of the Hart-Scott-Rodino Act (“HSR Act”). [2]The proposed rules are subject to public comment and are unlikely to come into effect for at least a few months to a year or even longer. The proposed changes (i) impose new information and aggregation reportability requirements primarily aimed at investment firms using multi-fund structures for investments and master limited partnerships (“MLPs”) (the “Proposed Aggregation Rules”) [3] and (ii) create a new exemption for acquisitions of ten percent or less of an issuer’s voting securities unless the acquirer falls within one of the enumerated exceptions to the
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The US FTC and DOJ propose changes to two aspects of the HSR rules
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