Congressman Fitzgerald Introduces Legislation to Provide Clarity on Merger Process

By U.S. Rep. Scott Fitzgerald - Feb 11th, 2025 04:05 pm

WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05) introduced a Congressional Review Act (CRA) resolution of disapproval to repeal the FTC’s final rule making changes to the Premerger Notification Form under Hart-Scott-Rodino (HSR).

“When Congress passed the Merger Filing Fee Modernization Act, it did so with one bipartisan goal; to lower the filing burden on small businesses. Unfortunately, this rule is in clear departure from Congressional intent, benefitting large corporations relative to small businesses,” said Congressman Scott Fitzgerald. “With Republicans in full control of Washington, we should use this as an opportunity to go back to the drawing board and pass a rule that aligns with both Congressional and statutory intent. I look forward to working with the Trump Administration to make targeted changes to the rule and focus on ensuring foreign state-owned enterprises are not distorting our markets.”

BACKGROUND: This resolution would provide Congressional disapproval of, and nullify, the FTC final rule titled, “Premerger Notification; Reporting and Waiting Period Requirements.” Under the HSR Act, parties to certain mergers and acquisitions are required to submit premerger notification forms disclosing certain information about their proposed deal and business operations. In November 2024, the FTC and DOJ jointly finalized a rule making changes to certain premerger notification and reporting requirements under the HSR Act. The rule imposes several new requirements on merging parties, including those required through enactment of the Merger Filing Fee Modernization Act (MFFMA) of 2022. The rule officially took effect on February 10, 2025.

View bill text here.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

Mentioned in This Press Release

People: Scott Fitzgerald

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