The Federal Trade Commission (FTC) has announced revised thresholds applicable to Hart-Scott-Rodino (HSR) notification requirements, effective on February 24, 2014. The revised thresholds are:
Size-of-Transaction Test: The threshold used in the size-of-transaction test will increase from $70.9 million to $75.9 million.
Size-of-Persons Test: The sales and assets thresholds used in the size-of-persons test will increase from $14.2 million to $15.2 million and from $141.8 million to $151.7 million, respectively. The threshold below which the size-of-persons test applies, will increase from $283.6 million to $303.4 million.
Greater Notification Thresholds: These thresholds, which apply to acquisitions of voting securities made within five years after expiration or termination of the waiting period from a previous HSR filing for an acquisition of voting securities from the same issuer, were revised as follows:
Previous Threshold | Revised Threshold |
$141.8 million | $151.7 million |
$709.1 million | $758.6 million |
25% of voting securities if valued at greater than $1,418.1 million | 25% of voting securities if valued at greater than $1,517.1 million |
50% of voting securities if valued at greater than $70.9 million | 50% of voting securities if valued at greater than $75.9 million |
Filing Fees: Filing fee thresholds based upon the value of assets or voting securities being acquired will be revised as follows:
Value of Transaction | Filing Fee |
$75.9 million to $151.7 million (previously $70.9 milling to $141.8 million) |
$45,000 |
$151.7 million to $758.6 million (previously $141.8 million to $709.1 million) |
$125,000 |
$758.6 million or more (previously $709.1 million or more) |
$280,000 |