The SEC Division of Corporate Finance updated the Compliance and Disclosure Interpretations for beneficial ownership reporting to clarify on exemption in the Hart-Scott-Rodino Act.
News & Insights
The Federal Trade Commission Premerger Notification Office has revised its position with respect to applying the size of transaction test in the leveraged buyout ("LBO") context by establishing that "new debt used to finance an LBO transaction, whether taken on by the buyer or the target, is to be included in the size of transaction."
The Federal Trade Commission finalized annual revisions to the dollar jurisdictional thresholds that apply to (i) premerger notification reporting requirements, and (ii) interlocking directorates.
In an address on the application of antitrust laws to the financial sector, DOJ Assistant Attorney General Makan Delrahim stated that theories concerning the common ownership debate and institutional investors must be "rooted in theories of harm."
Two Japanese corporations agreed to settle FTC charges for violating the premerger notification and waiting period requirements under the Hart-Scott-Rodino Act.