DoJ, FTC: Less premerger reporting requirements
The Department of Justice (DoJ) and the Federal Trade Commission (FTC) have relaxed standards for premerger notification, according to a July 7 release from the DoJ. In an effort to reduce burden and ensure effective rules, the filing form parties must submit when seeking antitrust clearance of proposed mergers and acquisitions under the Hart-Scott-Rodino (HSR) Act was simplified.
“The revisions are part of ongoing efforts by the department and the FTC to review their regulations, ensure that the rules are necessary and up-to-date, and eliminate unnecessary or potentially overly burdensome reporting requirements for business,” the DoJ wrote.
A revised HSR form has less categories of information, because the agencies deemed them unnecessary. For example, companies seeking mergers will no longer be required to provide documents already filed with the Securities and Exchange Commission.
The agencies last August sought public comment on the proposed changes. The 49-page document of revised rules can be found here.
“The revisions are part of ongoing efforts by the department and the FTC to review their regulations, ensure that the rules are necessary and up-to-date, and eliminate unnecessary or potentially overly burdensome reporting requirements for business,” the DoJ wrote.
A revised HSR form has less categories of information, because the agencies deemed them unnecessary. For example, companies seeking mergers will no longer be required to provide documents already filed with the Securities and Exchange Commission.
The agencies last August sought public comment on the proposed changes. The 49-page document of revised rules can be found here.