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Clifford Chance

Clifford Chance


U.S. Federal Trade Commission Announces Annual Revisions to the HSR Act's Thresholds and Thresholds Pertaining to the Prohibition Against Interlocking Directorates

29 January 2020

On January 28, 2020, the U.S. Federal Trade Commission the annual revisions to the jurisdictional thresholds of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Barring an exemption, parties to a transaction meeting these thresholds must make pre-closing notifications to the U.S. antitrust authorities and abide by a mandatory waiting period. The revised thresholds also dictate the relevant filing fee the parties must pay when submitting their HSR filings. The new thresholds will apply to any transaction that closes 30 days after the new thresholds are published in the Federal Register. The FTC's announcement also included revisions to the jurisdictional thresholds of Section 8 of the Clayton Antitrust Act of 1914, which places restrictions on interlocking directorates.

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