Merger Program Overhaul Adds Compliance Burdens for Companies

A sweeping overhaul of a merger notification program overseen by US antitrust regulators will place far more demands on companies and their counsel, ultimately raising the compliance costs for deals.

The revamp, which was unveiled Oct. 10 and is set to take effect in January, is part of the Biden administration’s effort to sharpen its scrutiny of mergers and acquisitions across the economy.

Under the Hart-Scott-Rodino Act, companies making acquisitions valued at more than $119.5 million must submit a form giving the Federal Trade Commission or the Justice Department 30 days to review the deal.

The form is designed ...