Client Alert
On February 4, the U.S. Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) announced they would be suspending the practice of allowing early ends to the merger review process under the Hart-Scott-Rodino Act (“HSR”). The DOJ and FTC in a joint statement said they would be reviewing the procedure and process used to grant early terminations for merger review. During such review, enforcers will not grant any early terminations. The agencies cited the transition to a new administration, the “unprecedented volume” of merger filings received at the start of the new year and the ongoing pandemic as reasons for reviewing the procedures. Although the agencies did not give a timeline as to when early termination would be reinstated, they did note that they “anticipate that this temporary suspension will be brief.”
The announcement can be found at: https://www.ftc.gov/news-events/press-releases/2021/02/ftc-doj-temporarily-suspend-discretionary-practice-early
