Hart-Scott-Rodino Antitrust Improvements Act of 1976

Tags:

Mission:

Competition

Rule/Law:

15 U.S.C. § 18a

This Act, amending the Clayton Act, requires companies to file premerger notifications with the Federal Trade Commission and the Antitrust Division of the Justice Department for certain acquisitions. The Act establishes waiting periods that must elapse before such acquisitions may be consummated and authorizes the enforcement agencies to stay those periods until the companies provide certain additional information about the likelihood that the proposed transaction would substantially lessen competition in violation of Section 7 of the Clayton Act. The Act also requires a filing fee. The fees are evenly divided between and credited to the appropriations of the FTC and the Antitrust Division. The amount of the fee is based on the size of the transaction, with three fee tiers that are adjusted annually to account for increases in the Gross National Product.