What is an HSR approval?
HSR filings are premerger notifications that parties to a proposed merger transaction make with both the Federal Trade Commission and the Department of Justice. Subject to minor exceptions, both the seller and the buyer must each separately file with both agencies.
What are HSR requirements?
One party has a size of at least $184 million (measured by sales or assets); The other party has a size of at least $18.4 million (measured by sales or assets if engaged in manufacturing; by assets, usually, if not engaged in manufacturing); and. The size of the transaction is at least $92 million.
What does HSR stand for antitrust?
Hart–Scott–Rodino Antitrust Improvements Act
The Hart–Scott–Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act.
What are HSR thresholds?
A key effect of this year’s indexing is that transactions will only be reportable if the Size of Transaction exceeds $92 million, a decrease from 2020’s $94 million threshold….Summary.
| Original Threshold | 2021 Threshold |
|---|---|
| $10 million Size of Person Test | $18.4 million |
| $100 million Size of Person Test | $184 million |
How does HSR work?
What is HSR test?
HSR Notification Thresholds Overview The HSR Act requires premerger notification of transactions that satisfy the “size of transaction” and “size of person” tests and are not otherwise exempt. The thresholds are adjusted annually to reflect changes in the U.S. gross national product.
What is a HSR?
Health and safety representatives, commonly referred to as HSRs, are workers who are elected to represent the health and safety interests of their work group.
What HSR means?
HSR
| Acronym | Definition |
|---|---|
| HSR | High Speed Rail |
| HSR | Health Services Research (journal) |
| HSR | Health and Safety Representative (Australia) |
| HSR | Heat Shock Response (cell biology) |
How long is HSR Clearance good for?
Once a transaction’s waiting period expires, the acquiring party has exactly one year from that date to consummate the transaction, regardless of whether that date falls on a weekend or holiday. After one year, the HSR filing is expired, and the parties must submit new HSR filings.
What is the HSR?
HSRs are elected to represent workers on health and safety and matters have responsibilities under WHS legislation. It is a serious role and has powers and responsibilities under the sections 68 and 69 of the Work Health and Safety Act 2011.
What is the size of person test HSR?
Significantly, the size-of-person test will not apply to a transaction valued above $368 million….The Size-of-Person Test.
| Original Threshold | 2020-2021 Threshold | 2021-2022 Threshold |
|---|---|---|
| $200 million | $376 million | $368 million |
What are HSR responsibilities?
Powers and functions of an HSR are to: main role is to represent workers on health and safety issues with the workplace, monitor the measures taken by the employer, investigate the complaints from their work group members, and. look into anything that might be a health and safety risk to the workers they represent.
How long does it take to get clearance for HSR?
During the initial HSR waiting period: The FTC and DOJ complete a preliminary review and, if further investigation is needed, determine which agency will take the filing, known as the clearance process. This can take a few days, or in rare cases, a few weeks.
What is the review process for an HSR filing?
What is the review process for an HSR filing? Once both parties have filed, a specific merger review timeline begins. For most – but not all – transactions, this starts with an initial 30-day waiting period. For cash tender offers and bankruptcies, the initial waiting period is only 15 days.
How often are the thresholds for the HSR Act adjusted?
The HSR Act thresholds are adjusted annually. Even if the thresholds are met, there are many exemptions to HSR reportability to consider as well. The tests, and the current thresholds for each, are the:
What happens if you fail to comply with the HSR Act?
Failure to comply. Failing to comply with the HSR Act, or filing an incomplete HSR form, can bring serious consequences for companies and individuals, including restarting the waiting period or substantial civil penalties.