Hart-Scott-Rodino Act

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 ?
M2 EQUITYBITES-August 23, 2017-InfraREIT passes early termination of Hart-Scott-Rodino Act waiting period for planned exchange agreement
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.
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.
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 acquisition closed following receipt of the approval of the limited partners of Titan Energy Partners LP on May 15, 2005, and the expiration of the waiting period under the Hart-Scott-Rodino Act.
Del Monte Foods expects the transaction to close in fiscal 2007, subject to the satisfaction of customary closing conditions and antitrust approval under the Hart-Scott-Rodino Act.
CVS Corporation (NYSE: CVS) announced today that the waiting period under the Hart-Scott-Rodino Act (the "HSR Waiting Period") applicable to the pending sale by Albertson's, Inc.
Nasdaq: NUAN) and Dictaphone Corporation today announced that the United States Department of Justice has granted early termination of the antitrust waiting period under the Hart-Scott-Rodino Act for Nuance's proposed acquisition of Dictaphone.
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.
Completion of the acquisition is subject, among other matters, to regulatory filings including Hart-Scott-Rodino Act clearance and is expected to occur in the fourth quarter of 2005.