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Competition Matters

Physician Group and Healthcare Facility Merger Study

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On January 14, 2020, the Federal Trade Commission (FTC) ordered six insurance companies to provide information that will allow the agency to study the effects of consummated physician group and...
Competition Matters

Wait for it—a Waiting Period Letter confirms your HSR filing

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Once you’ve submitted a Hart-Scott-Rodino filing to the FTC’s Premerger Notification Office, make sure you receive official confirmation that your filing has been received. We’ve compiled important...
Competition Matters

HSR Early Termination After a Second Request Issues

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On February 4, 2021, the Federal Trade Commission, with the support of the Department of Justice, announced the temporary suspension of granting early termination (ET) under the Hart-Scott-Rodino Act...
Competition Matters

HSR threshold adjustments and reportability for 2021

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When Congress passed the Hart-Scott-Rodino Antitrust Improvements Act of 1976, it created minimum dollar thresholds to limit the burden of premerger reporting. In 2000, it amended the HSR statute to...
Competition Matters

File comments in HSR Rulemaking by February 1

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Earlier this fall, the Commission announced two separate rulemaking initiatives aimed at updating the rules and interpretations that implement the Hart-Scott-Rodino Act. After publication of the...
Competition Matters

Leadership Changes in Mergers Divisions

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I am pleased to announce several leadership changes in the Bureau's Mergers I and Mergers IV Divisions. Mark Seidman has been named as the Acting Assistant Director for the Mergers IV Division. Mark...
Competition Matters

A Fiscal Year Like No Other

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With the conclusion of FY2020, we look back on a year unlike any other in the history of the Bureau of Competition. The year has been marked by a combination of exceptional commitment from the Bureau...
Competition Matters

Seeing the whole picture on avoidance devices

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Under the Hart-Scott-Rodino (HSR) Act and Rules, parties cannot use a transaction structure for the purpose of avoiding or delaying their premerger filing obligation. If they do, the Commission must...
Competition Matters

Real deadlines and real consequences

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Recently, Alimentation Couche-Tard and CrossAmerica Partners (collectively ACT) agreed to pay a $3.5 million civil penalty to settle allegations that they violated a Commission divestiture order that...
Competition Matters

Eyes Wide Open: There are no blinders in merger reviews

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The FTC's Bureau of Competition sometimes reviews proposed mergers against the backdrop of civil and criminal antitrust investigations or litigations leveled in the same industry. And at times, such...
Competition Matters

Real-Time Transparency for HSR Transaction Numbers

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In response to increased interest in levels of M&A activity, the Bureau of Competition’s Premerger Notification Office (PNO) is responding in real-time by posting monthly figures for Hart-Scott-Rodino...
Competition Matters

A Busy Six Months

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As we head into the second half of 2020, it’s a good time to pause and take stock of the past six months of work in the Bureau of Competition. Despite the challenges created by the COVID-19 pandemic...
Competition Matters

On “Failing” Firms — and Miraculous Recoveries

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Over the past few years, the Bureau has faced a surprising number of failing firm claims by merging parties. Even when the economy was booming, we heard many iterations of the same argument: The...
Competition Matters

HSR Filing Fees – Reminders and Tips

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The PNO handles Hart-Scott-Rodino (HSR) premerger notification filings for thousands of transactions each year. Filing fees are also required as part of the HSR premerger notification process. Failure...
Competition Matters

Yes, we’re hiring another AD!

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I want to thank Mike Moiseyev for his dedication and commitment to the Bureau of Competition. Mike has led the Mergers I Division for the past 16-and-a-half years, becoming Assistant Director in 2003...
Competition Matters

We’re hiring a new AD!

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I want to thank Kevin Hahm for his work in the Bureau of Competition and, most importantly, for his contribution to our competition enforcement. Kevin, most recently, the Assistant Director for the...
Competition Matters

Resuming early termination of HSR reviews

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On Friday, March 13, as part of the Bureau’s response to the COVID-19 coronavirus situation, and in partnership with the Antitrust Division of DOJ, we announced that the Bureau’s Premerger...