• Parties to Acquisitions Involving LLCs and Partnerships on Notice: Amendments to Premerger Notification Rules to Increase the Number of HSR Filings for Acquisitions of Unincorporated Entities
  • May 5, 2005 | Author: Matthew R. D'Ascenzo
  • Law Firm: Kirkpatrick & Lockhart Nicholson Graham, LLP - Pittsburgh Office
  • This Alert summarizes a number of amendments to the premerger notification rules (the "Rules") that the Federal Trade Commission enacted on April 7, 2005. These amendments revolutionize U.S. premerger notification law by vastly increasing the number of acquisitions involving limited liability companies and partnerships that are subject to the Hart-Scott-Rodino Act. They largely eliminate previously existing discrepancies in the application of the Rules to corporations and unincorporated entities with respect to change of control acquisitions, intraperson transfers, and formations. The amendments also formally adopt certain previously existing informal opinions regarding the Rules and fix inconsistencies in them.