Real-Time Transparency for HSR Transaction Numbers

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 (HSR) Act filings.  Starting today, the PNO is posting monthly totals for the most recent six-month period, and will update the numbers on a six-month rolling basis on the PNO homepage.  While the Commission publicly reports monthly HSR transaction numbers in its Annual HSR Reports, those reports are prepared and published after the end of each fiscal year.

Note that this effort will not change our regular process of adjusting the raw number of filings collected during the year. As explained in Appendix A, Footnote 2 of the Annual Report, we adjust the numbers to eliminate transactions that were not reportable, incomplete, withdrawn, or that relate to non-competitive notifications under the Act. As a result, the monthly data we release may not match the monthly totals reported in the HSR Annual Report. Based on our experience over the years, we expect the differences will be small.  

Any questions about this new initiative should be directed to Premerger@ftc.gov.