Author: Naomi Cooper|| Date Published: June 28, 2023
The Federal Trade Commission and the Department of Justice’s antitrust division have proposed changes to the Hart-Scott-Rodino Act filing process to better screen merger and acquisition deals for potential competition issues.
Under the proposal, companies must provide information about previous acquisitions, transaction rationale and corporate relationships, projected revenue streams and market conditions, and products and services in horizontal and non-horizontal integration, FTC said Tuesday.
An updated premerger notification form will include employee classification based on current Standard Occupational Classification system categories.
The proposed rules come amid concerns raised by lawmakers that subsidies from foreign entities could disrupt the competitive process through M&A activity involving U.S. businesses.
DOJ and FTC will open a 60-day public comment period upon publishing the notice in the Federal Register.
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