HSR: No Early Termination Under Temporary FTC Filing Protocols
On Friday, the FTC announced the implementation of a temporary e-filing system for HSR notifications in response to the COVID-19 pandemic. While this temporary system is in place, early termination of the HSR waiting period will not be granted for any filing.
No filings will be accepted today, but beginning tomorrow, filings will be accepted only through this temporary system, which will require documents to be uploaded through Accellion using the same file formats as specified for DVD filings on the Style Sheet for HSR Filings. An Arnold & Porter memo summarizes the temporary filing procedures:
The temporary procedures require electronic filing of notifications with the PNO and the Department of Justice, instead of the hard copy and DVD format currently in effect. Documents to be e-filed must be in searchable PDF or MS Excel files and labeled in the same manner as set forth in the PNO’s instructions applicable to DVD filings. When notified by a party that it wishes to make a filing, the Staff of the PNO will forward a link which will allow the filer to upload the contents of its complete HSR filing to a secure Accellion file-transfer platform. Filing fees are currently paid by wire transfer and the procedure for doing so remains unchanged.
The DOJ will implement the same procedures. The FTC’s Premerger Notification Office has issued specific guidance on the new e-filing system and operating procedures.
-John Jenkins, DealLawyers.com March 16, 2020
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