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Antitrust and COVID-19

usinesses and institutions in many industries, including health care and life sciences, are considering ways to cooperate and collaborate in order to assist in addressing the public health crisis, as well as the economic crisis, caused by COVID-19 in the United States. Although these efforts – particularly among horizontal competitors – warrant assessing antitrust considerations, businesses can often engage in procompetitive collaboration with minimal or no antitrust risk. This Ropes & Gray alert sets forth some general principles, and provides an update on the recent Joint Statement by the Federal Trade Commission (“FTC”) and Antitrust Division of the Department of Justice (“DOJ”) dated March 24, 2020.

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New Threshold and Penalty Amounts Applicable to Hart-Scott-Rodino Filings


Time to Read: 1 minutes Practices: Antitrust

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Transactions closing on or after February 12, 2009 will be subject to the following revised HSR jurisdictional and filing fee thresholds:

Size-of-Transaction Test

  • The threshold used in the size-of-transaction test will increase from $63.1 million to $65.2 million of voting securities, assets, or non-corporate interests held by an acquiring person.

Size-of-Persons Test

  • The sales and assets thresholds used in the size-of-persons test will increase from $12.6 million to $13 million and from $126.2 million to $130.3 million.
  • The size-of-persons test will apply to transactions valued at less than $260.7 million.

Filing Fees

  • Filing fee thresholds based upon the value of the assets or voting securities being acquired will be revised as follows:

Value of Transaction

Filing Fee

 

$65.2 to $130.3 million (previously $63.1-$126.2 million)

 

$45,000

$130.3 to $651.7 million (previously $126.2 - $630.8 million)

 

$125,000

$651.7 million or more (previously $630.8 million or more)

$280,000

 

 

 

 

 

 

 

 Penalties

  • The maximum civil penalty for HSR-related violations will increase from $11,000 to $16,000 per day and is applicable to transactions closing on or after February 8, 2009.

Other value limitations contained in the HSR coverage and exemption rules have also been adjusted.

If you have any questions about this decision, please contact any of the attorneys listed on this page or your regular Ropes & Gray legal advisor.

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