Have a good plan for HSR compliance

It is also a reminder that every investor—companies and individuals alike—needs to have a program in place to ensure compliance with HSR filing obligations.

Metadata

Provider:

FTC

URL:

https://www.ftc.gov/enforcement/competition-matters/2014/08/have-good-plan-hsr-compliance

Retrieved on:

Saturday, February 4, 2023

Information

Tags:

Berkshire Hathaway, Commission, MacAndrews & Forbes, Hart–Scott–Rodino Antitrust Improvements Act, Symetra, Program, Compliance, Agency, File, Forbes, HSR, USG Corporation, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Berkshire, FTC, Security (finance), Audit

Summary

Key Points:

It is also a reminder that every investor—companies and individuals alike—needs to have a program in place to ensure compliance with HSR filing obligations.
Under Rules 802.31 and 801.32, no HSR filing was required when acquiring the convertible notes, but filing was required prior to their conversion.
After the first failure to file, Berkshire Hathaway assured the FTC that it would institute an HSR compliance program.
Not all acquisitions of voting securities require an HSR filing, and buyers sometimes make mistakes in applying the HSR rules to particular combinations of buyer, seller, asset or voting security, value, location, timing, etc.