On August 26, 2016, the Federal Trade Commission (“FTC”) approved final amendments to the Hart-Scott-Rodino Premerger Notification Rules that allow HSR filings to be submitted on DVD and streamline the instructions to the Premerger Notification Form. These updates will make the process of submitting HSR filings easier, more efficient and less burdensome.
The HSR Act gives the federal government the opportunity to investigate and challenge mergers that are likely to harm consumers before injury occurs. The HSR Act requires that the parties to certain proposed transactions submit HSR filings to the FTC and Department of Justice. These filings comprise of an HSR Form, which contains information about each company’s business, and relevant business documents regarding competition.
Currently, all HSR filings are submitted in paper form. By allowing HSR filings to be submitted on DVD, the amendments eliminate the expensive and time-consuming printing and duplication of electronically maintained documents that are submitted to the antitrust agencies.
The amendments also update the instructions that apply to the HSR Form. Some updates relate to DVD filing but most aim to make the instructions more straightforward and easier to understand.
The Commission vote to publish the Federal Register Notice was 3-0.