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In corporate mergers and acquisitions, the Hart-Scott-Rodino Act can be a four-letter word. Dealmakers and corporate executives often believe that the HSR process presents a significant regulatory hurdle for M&amp;A — resulting in additional expenses and delays.

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The data, though, tells a more nuanced story. Released July 1, the HSR annual report for fiscal year 2025 shows that while federal antitrust agencies continue to scrutinize transactions carefully, most reported deals proceed through the HSR process without extensive investigation or enforcement action.

The fiscal year data reveals transaction volume remained relatively stable, transaction values continued to increase and enforcement activity remained low. Perhaps most surprisingly, the report suggests that enforcement rates have been relatively consistent across presidential administrations despite widely differing public rhetoric regarding merger enforcement.

This is all good news for dealmakers, merging parties and their counsel. With advanced planning, merging parties can anticipate many of the potential questions from a reviewing antitrust agency and develop proactive strategies to address any issues, maximizing chances of clearing HSR review unscathed.

To learn more about the key takeaways from the HSR annual report for fiscal year 2025, read the full article on Law360 here: <a href="https://www.law360.com/articles/2506933?copied=1" target="_blank" rel="noreferrer noopener">https://www.law360.com/articles/2506933?copied=1</a>

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HSR Deals Proceed More Steadily Than Narratives Suggest

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