July 8, 2011
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As the latest evidence of increased antitrust enforcement, on July 7 the Federal Trade Commission and the antitrust division of the Department of Justice jointly published the most sweeping changes to Hart-Scott-Rodino (HSR) practice in its 33-year history. HSR enables the FTC and the DOJ to analyze the potential competitive effects of a proposed transaction and initiate a pre-closing challenge if warranted. Absent an exemption, the requirement applies to transactions meeting relatively small "size" thresholds (which remain unchanged), including a "size of transaction" test of $66 million (less if the value of prior acquisitions in the same target must be counted).
A number of the changes streamline the form in certain respects, but others raise new HSR compliance burdens that companies, partnerships and LLCs need to be aware of before their next filing. In an article recently published in The Deal magazine, Loeb & Loeb’s Antitrust Practice Co-Chair Michael Jahnke examines the HSR changes and their implications for entities making reportable acquisitions.
This article was published in the July 8, 2011 edition of The Deal magazine. Permission for article reprint has been granted.