Clifford Chance

Revised Thresholds for the HSR Act and Prohibitions Against Interlocking Directors Announced

16 January 2015

Under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as Amended parties to an acquisition of voting securities, non-voting securities, or assets are required to make notification filings with the U.S. Federal Trade Commission and Department of Justice, if the size of the parties and the value of the transaction exceed particular thresholds, barring one of numerous exemptions. The parties must also abide by a mandatory waiting period before closing. The FTC revises these thresholds annually based on changes to the gross national product. On January 15, 2015, the FTC announced this year's revision to the thresholds.

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