The US FTC and DOJ propose an overhaul of the HSR Form that is likely to dramatically increase the burden on the transaction parties

Overview Earlier this week, the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice (the “Antitrust Agencies”) announced proposed changes to the premerger notification process that mark the most significant changes to the Hart-Scott-Rodino (“HSR”) Form since it was created 45 years ago. Assuming that the proposed changes go into effect, all filers (without any exception, all buyers and sellers subject to the HSR Act) should expect a seismic change in the amount and type of upfront information required for the HSR Form, significant additional time to prepare the HSR Form and expansion of the potential areas of inquiry that the reviewing Antitrust Agency will be armed to examine. These changes are purportedly designed to enable the Antitrust Agencies to