New Hart-Scott-Rodino Rules

• Posted by Geoffrey G. Gussis on July 5th, 2005


• Filed in Corporate/M&A

PLI has released a new free article for download:


"Changes to Hart-Scott-Rodino Rules Effective April 7, 2005" by Yvonne S. Quinn (Sullivan & Cromwell LLP), which sets out the relevant changes concisely, one frame per change. As Quinn counts it, there are 23 distinct, substantive changes in the April 7 amendments:

* 15 changes to harmonize the treatment of corporations and unincorporated entities
* Two changes applicable to not-for-profit corporations
* Three technical corrections of existing errors in the rules
* Three new exemptions or codifications of previously informally recognized exemptions

And a partridge in a pear tree. Some might wonder why the need for those changes regarding unincorporated entities. Well, HSR is triggered by the acquisition of voting securities or assets and, of course, unincorporated entities can’t really be classified by such reference. Under the new rules, HSR will be triggered when an entity gains control of an unincorporated entity."

Download Changes to Hart-Scott-Rodino Rules Effective April 7, 2005.