On Monday, September 21, 2020, the Federal Trade Commission (FTC) and Department of Justice (DOJ) jointly released two proposed rule changes to the Hart-Scott-Rodino (HSR) premerger filing requirements for acquiring parties. In an extension of a 2011 rule change that established the concept of “associates,” the first proposed change would require aggregation with the filing person of its associates, which are entities under common management or operational control with the filing person, both when analyzing whether a transaction is reportable and when providing certain information in the filing. The second proposed rule change modestly expands upon the HSR exemption for passive investment acquisitions. The proposed rules remain subject to a period of public comment, after which the FTC
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The US FTC and DOJ jointly release two proposed rules to change the HSR pre-merger filing requirements for acquiring parties
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