From October to Rocktober? A Hart-Scott-Rodino Act Transaction Update (October 2021)

Increased interest in levels of M&A activity resulted in the Bureau of Competition’s Premerger Notification Office (PNO) publishing monthly figures for Hart-Scott-Rodino (HSR) Act transactions. The latest monthly update from the PNO is for October 2021 (FY 2022) and noted 443 reported transactions. This is the highest number of monthly reported transactions in any month of October between FY 2010 and FY 2022. It is also the highest number of reported transactions in any month since October 2010.

Content Assessment: A Hart-Scott-Rodino Act Transaction Update (October 2021)

Information - 90%
Insight - 95%
Relevance - 85%
Objectivity - 95%
Authority - 100%

93%

Excellent

A short percentage-based assessment of the qualitative benefit of the recent post highlighting real-time monthly and annual HSR Act filing reporting by the FTC.

Editor’s Note: The Hart-Scott-Rodino Act established the federal premerger notification program, which provides the FTC and the Department of Justice with information about large mergers and acquisitions before they occur. The parties to certain proposed transactions must submit premerger notification to the FTC and DOJ. Premerger notification involves completing an HSR Form, also called a “Notification and Report Form for Certain Mergers and Acquisitions,” with information about each company’s business. The parties may not close their deal until the waiting period outlined in the HSR Act has passed, or the government has granted early termination of the waiting period.

A Hart-Scott-Rodino Act Transaction Update (October 2021)

Taken from the latest published Hart-Scott-Rodino (HSR) Premerger Notification monthly transactions as shared by the Federal Trade Commission (FTC), the following transaction information and corresponding charts may be useful for law firms, legal departments, and legal services providers seeking to understand the real-time pulse rate of Hart-Scott-Rodino Act mandated merger transaction reviews. As these reviews may lead to Second Requests, the charts may also be useful as a baseline for considering provider assertions regarding the depth, breadth, and volume of their Second Request support for this unique type of eDiscovery during specific time frames.

Comparing the Operations Tempo for HSR Act Transactions: Informational Charts

Provided for context and comparison are charts that share HSR Act-related metrics for monthly filings based on real-time reporting in fiscal year (FY) 2022 and 2021 and annual reporting in 2020, 2019 and 2018.


Chart 1: Monthly HSR Act Transactions Reported in the Fiscal Year 2022 (October-September)*

HSR Act Merger Transactions Reported - 2022

Chart 2: Monthly HSR Act Transactions Reported in the Fiscal Year 2021 (October-September)*

HSR Act Merger Transactions Reported - 2021 - Preliminary

Chart 3: Monthly HSR Act Transactions Reported in the Fiscal Year 2020 (October – September)**

HSR Act Merger Transactions Reported - 2020 Final

Chart 4: COVID Constraints: HSR Act Transactions Reported During Current Pandemic (February 2020 – October 2021)*/**

COVID Constraints - HSR Act Merger Transactions Reported - FY 2020-22 - Update

Chart 5: Monthly HSR Act Transactions Reported in the Fiscal Year 2019 (October – September)**

HSR Act Merger Transactions Reported - 2019 Final

Chart 6: Monthly HSR Act Transactions Reported in the Fiscal Year 2018 (October – September)**

HSR Act Merger Transactions Reported - 2018 Final

Chart 7: HSR Act Annual Transactions Reported in Fiscal Years 2010 – 2022

HSR Act Merger Annual Transactions Reported - Update

*Monthly Real-Time Reporting First Report is October 2019 (Monthly Running Report)
**Based on Monthly Reporting as Represented in Annual HSR Transaction Reports

Additional Reading

Source: ComplexDiscovery

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