The Department of Justice (DoJ) and the Federal Trade Commission (FTC) last week announced changes to the premerger notification form, aimed at streamlining the merger and acquisition process.
Parties must fill out the form, under the Hart-Scott-Rodino (HSR) Act and the Premerger Notification Rule, to qualify for antitrust clearance. The revised form will ensure rules are effective and not unduly burdensome, according to a DoJ press release on Thursday.
"The changes will make the HSR form easier to complete, reduce the burden for most filers and make the premerger notification review program more effective for both agencies," states the DoJ.
The updated form eliminates several unnecessary categories and will no longer require parties to provide documentation already filed with the Securities and Exchange Commission. The form also requires filers to narrowly focus on additional documents.
"The agencies worked together to modify the original proposal in response to these comments to clarify the proposed amendments and to ensure that they accurately reflect both agencies' interests in streamlining the HSR form. This will reduce burdens on businesses while still enabling the department and the FTC to obtain the information and documents they need in their merger review process," states the press release.
To learn more:
- read the DoJ press release
- check out the revised rules (.pdf)
- see the form (.pdf)
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