The US Congress enacts significant changes to Hart-Scott-Rodino Act in terms of filing fees and disclosure requirements

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 decrease. Maximum filing fees for the largest transactions will jump from US$280,000 to US$2.25 million, a 700% increase. Additional HSR disclosure requirements mandated relating to foreign subsidies. On December 23, 2022, the U.S. Congress passed an omnibus spending bill that incorporated the Merger Filing Fee Modernization Act (the