FTC Finalizes Significant Changes to Premerger Notification Form in Unanimous Vote

Oct 11, 2024, 01:57 AM

The Federal Trade Commission (FTC) has finalized significant changes to the premerger notification form on October 10, a move described as a 'generational upgrade' by FTC Chair Lina Khan. The revised Hart-Scott-Rodino (HSR) forms, approved by a unanimous 5-0 vote, aim to enhance the efficiency and effectiveness of merger enforcement. The new rules determine the information companies must provide when seeking clearance for proposed mergers and acquisitions. Notably, the FTC has pared back initial proposals that faced industry criticism, such as the requirement to submit preliminary deal drafts and labor market details. The updated rule also reinstates the 'early termination' of reviews for non-controversial mergers.