The US FTC and DOJ propose changes to two aspects of the HSR rules

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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Authors

  • Shearman & Sterling (Washington)
  • Shearman & Sterling (New York)
  • Shearman & Sterling (Washington)
  • Shearman & Sterling (New York)

Quotation

David A. Higbee, Jessica K. Delbaum, Benjamin Gris, Jonathan Cheng, The US FTC and DOJ propose changes to two aspects of the HSR rules, 21 September 2020, e-Competitions Cooperation between National Competition Authorities, Art. N° 97090

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