US: FTC and DOJ approve procedural amendments to HSR rules for foreign entities

The Federal Trade Commission, with the concurrence of the Antitrust Division of the US Department of Justice, has published in the Federal Register proposed amendments that clarify whether a transaction is exempt from premerger notification under the Hart-Scott-Rodino Act because the entity involved is foreign.

Determining whether an entity is a foreign person or issuer is often a necessary first step in analyzing whether the entity must file premerger notification or is exempt from those filing requirements. Under the current Hart-Scott-Rodino Rules, the determination often relies on the location of the entity’s “principal offices,” a term that has not previously been defined in the Rules.

Full Content: FTC

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