Starting this month pre-merger notification in the US will
become more difficult for funds and will force strategic
acquirers to reconsider their approach to synergy and
A number of changes to the national merger notification form
take effect on August 18. One requires filers to disclose the
identity and holdings of their associates - a new
concept under the Hart-Scott-Rodino (HSR) Act which captures
entities under the common management of the acquirer.
The change is aimed at private equity and hedge funds which
can consist of numerous funds that are commonly managed, but
which need not be disclosed in the HSR form because they are
beyond the Acts definition of control.
Under the new rules, the...