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On February 1, 2021, the Federal Trade Commission (FTC) announced revised jurisdictional thresholds for reporting transactions pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act). The new thresholds for HSR notification become effective on March 4, 2021.
Changes to the HSR reporting thresholds
Filing threshold
Section 7A of the Clayton Act, commonly known as the HSR Act, requires all persons contemplating certain mergers, acquisitions, joint ventures and corporate and non-corporate formations (e.g., LLCs and LPs) that meet or exceed the HSR Act s jurisdictional thresholds (1) to notify the FTC Bureau of Competition and the US Department of Justice (DOJ) Antitrust Division and (2) to wait the statutory 30-day period before consummating the transaction (unless early termination of the waiting period is granted). Pursuant to the 2000 Amendments, the FTC is required to revise the juris
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Beginning on 4 March 2021, transactions valued at more than $92 million may require filing with the antitrust agencies of a Premerger Notification and Report under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act). This is about a 2.1 percent decrease from the current filing threshold of $94 million.
Legislation adopted in 2000 requires the dollar values in the tests used to determine which mergers and acquisitions must be filed with the Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Department of Justice (DOJ) to be adjusted annually based on changes in the gross national product. The same adjustment factors are also applied to the transaction-size criteria that determine the amount of the filing fee paid in transactions for which a filing is required.
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On February 1, 2021, the Federal Trade Commission (FTC) announced for the first time since 2010 a decrease in the thresholds determining whether companies must notify federal antitrust authorities under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and its rules and regulations (HSR Act) before consummating a transaction. Under the HSR Act, companies of a certain size involved in a transaction exceeding reportability thresholds are required to file a pre-merger notification with the FTC and Department of Justice, and observe a waiting period unless an exemption applies.
The HSR Act requires the FTC to revise these jurisdictional thresholds annually based upon the change in U.S. gross national product. The FTC s announcement of lower revised thresholds under the HSR Act reflects a decrease in the gross national product for 2020 due to COVID-19.
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REDWOOD CITY, Calif., Feb. 02, 2021 (GLOBE NEWSWIRE) A day after announcing their new immuno-oncology collaboration, Coherus BioSciences, Inc. (Nasdaq: CHRS) ( Coherus ) announced that Shanghai Junshi Biosciences Co., Ltd (HK: 1877; SH: 688180) ( Junshi Biosciences ) intends to make a strategic investment of $50 million in Coherus pursuant to the terms of the definitive stock purchase agreement. We view our collaboration with Coherus as a strategic long-term partnership for the development and commercialization of toripalimab and promising PD-1 combination candidates, said Dr. Ning LI, CEO of Junshi Biosciences. We wanted to invest in Coherus so we could share our future growth together and mutual success with these programs.