Hart-Scott-Rodino Act


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Hart-Scott-Rodino Act

Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the capitalization of a specific security. The government has thirty days to respond to the filer.

Hart-Scott-Rodino Act

Legislation in the United States requiring any investor or company that buys 15% of equity or more than $15 million in stock in a publicly-traded company to register with the Justice Department and the Federal Trade Commission. It requires the same registration from some mergers and acquisitions. Once this registration occurs, those organizations have 30 days to determine whether the transaction violates any antitrust laws or regulations. During this time, the transaction is not allowed to close.
References in periodicals archive ?
The principal federal antitrust acts are the Sherman Act, (1) the Clayton Act, (2) the Federal Trade Commission Act, (3) the Robinson-Patman Act, (4) and the Hart-Scott-Rodino Act.
ZUG, Switzerland, June 14 /PRNewswire/ -- The US Department of Justice (DOJ) has confirmed that it has completed its review of Xstrata's proposed acquisition of Falconbridge Limited and has not identified any competition issues under the Hart-Scott-Rodino Act.
These include the Washington Utilities and Transportation Commission, the Oregon Public Utility Commission and the various jurisdictions under which MDU Resources' utility divisions operate, as well as clearance under the Hart-Scott-Rodino Act and the satisfaction of other customary closing conditions.
The acquisition was approved by the Rhode Island Division of Public Utilities and Carriers on July 25, 2006 and received clearance under the federal Hart-Scott-Rodino Act.
Department of Justice (DoJ) under the Hart-Scott-Rodino Act concerning the merger.
The FTC request extends the 30-day waiting period under the Hart-Scott-Rodino Act for an additional 20 days following the date of receipt of the requested information.
The merger is subject to approval by shareholders of both companies, Hart-Scott-Rodino Act, as well as various state and federal regulatory authorities, including the Federal Regulatory Commission, the Illinois Commerce Commission and the Public Service Commission of Wisconsin.
The closing of the transaction required termination of the Hart-Scott-Rodino Act waiting period and is subject to other customary closing conditions.
Under the Hart-Scott-Rodino Act, the antitrust authorities had until midnight, Jan.
This means that the 20-day additional waiting period prescribed by the Hart-Scott-Rodino Act commenced on Aug.
NYSE: KGM) said that Hart-Scott-Rodino Act compliance has been completed with respect to the agreement for the sale of its commercial glass container business to Ball Corp.
Federal Trade Commission approved early termination of the antitrust waiting period under the Hart-Scott-Rodino Act for the proposed acquisition of Chiron by Novartis.