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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