How long does Hart-Scott-Rodino take?
How long does Hart-Scott-Rodino take?
Although the waiting period is generally 30 days (15 days if the transaction is an all-cash tender offer or a bankruptcy sale), the regulators may request additional time to review additional information and the filing parties may request that the waiting period for a particular transaction be terminated early (“early …
How long does HSR approval take?
For most filings, the mandatory initial waiting period is 30 days, beginning the day after the filings are received complete and ending at 11:59pm on the 30th day thereafter (unless a federal holiday is on either date).
Are Hart-Scott-Rodino filings public?
Your filing will not be published or accessible to the public, and there is a spe- cific statute that prevents members of the public from accessing HSR filings through Freedom of Information Act requests.
How long does the FTC have to approve a merger?
Once the filing is complete, the parties must wait 30 days (15 days in the case of a cash tender offer or a bankruptcy) or until the agencies grant early termination of the waiting period before they can consummate the deal.
What does the Hart-Scott-Rodino Act require?
What is the Hart-Scott-Rodino Act? The Hart-Scott-Rodino Antitrust Improvements Act of 1976 requires parties to report large transactions to both the Federal Trade Commission and the US Department of Justice Antitrust Division for antitrust review.
Does FTC approve acquisitions?
The FTC and the Antitrust Division of the Department of Justice have concurrent jurisdiction to review mergers and acquisitions and enforce the federal civil antitrust laws.
Is HSR approval public?
The contents of the HSR submission, as well as the fact that the parties filed HSR forms at all, is kept confidential by the U.S. agencies.
Who is responsible for HSR filing?
The acquiring person (known as the acquiring ultimate parent entity or UPE) is responsible for paying the fee (16 C.F.R. ยง 803.9).
Does FTC approve mergers?
What is competition approval?
Competition Approvals means all approvals, consents (including consents to assignments or permits and rights of way), certificates, waivers and other authorizations required to be obtained from, or filings or other notices required to be made with or to, any Governmental Entities relating to antitrust or competition …
What is the Hart-Scott-Rodino Act of 1976?
The Hart-Scott-Rodino Antitrust Improvements Act of 1976 requires parties to report large transactions to both the Federal Trade Commission and the US Department of Justice Antitrust Division for antitrust review.
Who has to file HSR?
If the transaction is valued at $50 million (as adjusted) or less, no filing is required. If the transaction is valued at more than $200 million (as adjusted), and no exemption applies, an HSR filing must be made and parties must wait until the statutory waiting period has expired before closing the deal.
