HSR

Belden Launches Hirschmann BXP (BOBCAT eXtreme Performance) Managed Switch

Retrieved on: 
Wednesday, February 21, 2024

Belden Inc. (NYSE: BDC), a leading global supplier of network infrastructure and digitization solutions, today announced the launch of its Hirschmann BXP (BOBCAT eXtreme Performance) managed switch.

Key Points: 
  • Belden Inc. (NYSE: BDC), a leading global supplier of network infrastructure and digitization solutions, today announced the launch of its Hirschmann BXP (BOBCAT eXtreme Performance) managed switch.
  • The BOBCAT managed switch provides powerful benefits, such as:
    High port density, including 20-port and 28-port variants, to connect more network devices.
  • “BXP adds value through simplified web-based configuration, flexible Layer 2 or Layer 3 switch configuration options, and advanced security via the Hirschmann Operating System (HiOS).
  • The BXP has attained multiple international and industry certifications – including Conformité Européenne (CE), International Electrotechnical Commission (IEC), and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH).

New HSR thresholds and filing fees for 2024

Retrieved on: 
Thursday, February 8, 2024

New HSR thresholds and filing fees for 2024The 2023 Consolidated Appropriations Act created new filing fee tiers with new filing fees and the thresholds for these filing fees, as well as the fee amounts, are also adjusted annually along with the jurisdictional thresholds.

Key Points: 

New HSR thresholds and filing fees for 2024

  • The 2023 Consolidated Appropriations Act created new filing fee tiers with new filing fees and the thresholds for these filing fees, as well as the fee amounts, are also adjusted annually along with the jurisdictional thresholds.
  • The Commission recently announced the updated jurisdictional thresholds and the updated fee schedule, both of which will become effective on March 6, 2024.

Rule 1: The correct threshold for determining reportability is the one in effect at the time of closing.

  • This is often referred to as the “$50 million (as adjusted)” threshold because it started at $50 million and is now adjusted annually.
  • For 2024, that threshold will be $119.5 million.
  • Here are the new jurisdictional thresholds, effective on March 6, 2024: ORIGINAL THRESHOLD ADJUSTED THRESHOLD $10 million $23.9 million $50 million $119.5 million $100 million $239 million $110 million $262.9 million $200 million $478 million $500 million $1.195 billion $1 billion $2.390 billion

Rule 2: The filing fee is determined by the value of the transaction at the time of filing.

  • If you determine that a transaction is reportable, the filing fee should be based on the filing fee threshold that is in effect at the time of filing.
  • Here are the new filing fee thresholds, as well as the adjusted fee amounts, revised in accordance with the 2023 Consolidated Appropriations Act and effective on March 6, 2024: FILING FEE SIZE OF TRANSACTION $30,000 less than $173.3 million $105,000 not less than $173.3 million but less than $536.5 million $260,000 not less than $536.5 million but less than $1.073 billion $415,000 not less than $1.073 billion but less than $2.146 billion $830,000 not less than $2.146 billion but less than $5.365 billion $2,335,000 $5.365 billion or more

Rule 3: Notification thresholds for subsequent purchases adjust yearly, too.

Gildan Sets Meeting Date and Provides Regulatory Update

Retrieved on: 
Monday, January 29, 2024

Shareholders will receive details about the matters to be presented at the Meeting and about how to vote in a management information circular to be delivered to them in advance of the Meeting.

Key Points: 
  • Shareholders will receive details about the matters to be presented at the Meeting and about how to vote in a management information circular to be delivered to them in advance of the Meeting.
  • The Company also agrees with shareholders who hold the view that a meeting is not required to resolve this matter.
  • But for the violation of the HSR Act, Browning West would not have held sufficient shares to exercise the right to requisition a meeting under Canadian corporate law.
  • The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Gildan Comments on Violations of US Antitrust Law by Browning West

Retrieved on: 
Monday, January 22, 2024

MONTREAL, Jan. 21, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or the “Company”) today announced that it has learned that Browning West, LP (“Browning West”) accumulated shares in violation of the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) as part of its misguided campaign to reinstall Glenn Chamandy as CEO of Gildan.

Key Points: 
  • By acquiring shares in excess of the threshold without notifying these agencies and the Company, and without waiting 30 days to acquire the shares after providing notice, Browning West violated US law.
  • Without the shares acquired in violation of the HSR Act, Browning West would have no legal rights to requisition a meeting.
  • Browning West’s illegal share acquisitions add to the many serious questions raised about the purpose, planning and prudence of Browning West’s campaign.
  • What is clear is that Browning West and Mr. Chamandy desire to seize control of Gildan as rapidly as possible, and it appears they will step over the law to do so.

Imagine Pharma Launches the Imagine Pharma Foundation to Advance Metabolic Research with a Focus on Veterans

Retrieved on: 
Tuesday, January 23, 2024

PITTSBURGH, Jan. 23, 2024 /PRNewswire/ -- Imagine Pharma, a biotech company focused on furthering the commercialization opportunities related to its novel IMG-1 polypeptide across three distinct platforms: Oral Delivery, Therapeutics, and Regenerative Medicine, announced today the formation of The Imagine Pharma Foundation, a private not for profit charitable organization dedicated to advancing metabolic research to significantly impact the lives of those affected by diabetes, with a particular emphasis on serving veterans.

Key Points: 
  • The Imagine Pharma Foundation will collaborate with leading research institutions, pharmaceutical companies, healthcare providers, and other non-profit organizations, with a focus on four key areas: advancement of metabolic and diabetes research, increasing access to cutting-edge treatments for veterans and communities in need, supporting other non-profits focused on metabolic research and care and implementing education and awareness programs on diabetes prevention.
  • Diabetes is a major global health concern, affecting nearly 25 percent of the Department of Veterans Affairs (VA) patient population.
  • The disease is also the leading cause of blindness, end-stage renal disease, and amputation for VA patients.
  • "Through cutting-edge research, collaboration and education, we aim to play a leading role in advancing research and treatment for diabetes and other metabolic diseases to help improve outcomes for those with this disease."

FTC Announces 2024 Update of Size of Transaction Thresholds for Premerger Notification Filings

Retrieved on: 
Wednesday, January 24, 2024

The Federal Trade Commission has approved revised jurisdictional thresholds and a revised filing fee schedule under the Hart‑Scott‑Rodino (HSR) Antitrust Improvements Act of 1976.

Key Points: 
  • The Federal Trade Commission has approved revised jurisdictional thresholds and a revised filing fee schedule under the Hart‑Scott‑Rodino (HSR) Antitrust Improvements Act of 1976.
  • Section 7A(a)(2) of the Act requires the Commission to revise the jurisdictional thresholds annually, based on the change in gross national product.
  • The vote approving the Federal Register Annual Notice of Revision announcing the new HSR jurisdictional thresholds and filing fee schedule was 3-0.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

FTC Announces 2024 Update of Size of Transaction Thresholds for Premerger Notification Filings

Retrieved on: 
Wednesday, January 24, 2024

The Federal Trade Commission has approved revised jurisdictional thresholds and a revised filing fee schedule under the Hart‑Scott‑Rodino (HSR) Antitrust Improvements Act of 1976.

Key Points: 
  • The Federal Trade Commission has approved revised jurisdictional thresholds and a revised filing fee schedule under the Hart‑Scott‑Rodino (HSR) Antitrust Improvements Act of 1976.
  • Section 7A(a)(2) of the Act requires the Commission to revise the jurisdictional thresholds annually, based on the change in gross national product.
  • The vote approving the Federal Register Annual Notice of Revision announcing the new HSR jurisdictional thresholds and filing fee schedule was 3-0.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

Rover Announces Expiration of Hart-Scott-Rodino Waiting Period

Retrieved on: 
Tuesday, January 16, 2024

SEATTLE, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover” or the “Company”), the world’s largest online marketplace for pet care, today announced that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), expired at 11:59 p.m. Eastern Time on January 12, 2024.

Key Points: 
  • SEATTLE, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover” or the “Company”), the world’s largest online marketplace for pet care, today announced that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), expired at 11:59 p.m. Eastern Time on January 12, 2024.
  • The expiration of the waiting period under the HSR Act was one of the conditions to the closing of the pending acquisition of Rover by private equity funds managed by Blackstone Inc. ("Blackstone") (such pending acquisition, collectively with the transactions contemplated by the Merger Agreement, the “Merger”) contemplated by the Agreement and Plan of Merger, dated as of November 29, 2023, between Rover, Biscuit Parent, LLC and Biscuit Merger Sub, LLC (the "Merger Agreement").
  • The transactions contemplated by the Merger Agreement remain subject to other customary closing conditions, including the adoption of the Merger Agreement and the approval of the Merger by Rover stockholders.

Next-Generation Family of Ethernet Switches Features Time Sensitive Networking and Scalable Port Bandwidths from 46 Gbps to 102 Gbps

Retrieved on: 
Tuesday, January 16, 2024

To provide designers with a reliable and robust network solution with deterministic communication, Microchip Technology (Nasdaq: MCHP) today announces its next-generation of LAN969x Ethernet switches with Time Sensitive Networking (TSN), scalable bandwidths from 46 Gbps to 102 Gbps and a powerful 1 GHz single-core Arm® Cortex®-A53 CPU.

Key Points: 
  • To provide designers with a reliable and robust network solution with deterministic communication, Microchip Technology (Nasdaq: MCHP) today announces its next-generation of LAN969x Ethernet switches with Time Sensitive Networking (TSN), scalable bandwidths from 46 Gbps to 102 Gbps and a powerful 1 GHz single-core Arm® Cortex®-A53 CPU.
  • For applications that require greater redundancy, the LAN969x Ethernet switches can be configured with High-availability Seamless Redundancy (HSR) and Parallel Redundancy Protocol (PRP).
  • “Prior to the introduction of Microchip’s LAN969x Ethernet switches, customers who wanted to implement TSN and HSR/PRP features required multiple ICs.
  • The new family of LAN969x mid-range Ethernet switches rounds out Microchip’s portfolio of TSN switches.

FTC, DOJ Issue Fiscal Year 2022 Hart-Scott-Rodino Notification Report

Retrieved on: 
Wednesday, January 3, 2024

The agencies’ 45th Annual Hart-Scott-Rodino Report notes that in fiscal year 2022, 3,152 transactions were reported under the HSR Act, which is the second-highest number of reported transactions over the past 10 years.

Key Points: 
  • The agencies’ 45th Annual Hart-Scott-Rodino Report notes that in fiscal year 2022, 3,152 transactions were reported under the HSR Act, which is the second-highest number of reported transactions over the past 10 years.
  • The number of second requests issued by the agencies in fiscal year 2022 is consistent with the average number of second requests issued across the last decade.
  • The FTC and DOJ together filed 50 merger enforcement actions in fiscal year 2022, representing the highest level of enforcement activity in over 20 years.
  • The report includes statistical tables profiling HSR filings and investigations during fiscal year 2022.