us-ftc-hsr-informal-interpretations-b56e5d78dd8a5dcf05199cc1a7a5d523•2208002 Informal Interpretation
2208002 Informal Interpretation
us-ftc-hsr-informal-interpretations-b56e5d78dd8a5dcf05199cc1a7a5d5232208002 Informal InterpretationGuidance
Yes. The additional revenues and NAICS codes should be listed in Item 5(a), and you should produce the stand-alone 2021 financial statements for the company acquired in 2022.
Question
From: Fetterman, Michelle <mfetterman@ftc.gov>
Sent: Monday, August 15, 2022 4:49:43 PM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Cc: HSRHelp <HSRHelp@ftc.gov>; [Redacted]
Subject: RE: HSR filing question - post-recent year acquisition
Yes. The additional revenues and NAICS codes should be listed in Item 5(a), and you should produce the stand-alone 2021 financial statements for the company acquired in 2022.
From: [Redacted]
Sent: Monday, August 15, 2022 9:31:27 AM (UTC-05:00) Eastern Time (US & Canada)
To: HSRHelp <HSRHelp@ftc.gov>
Cc: [Redacted]
Subject: HSR filing question - post-recent year acquisition
Good morning,
We are currently assisting our client, the acquired person in a transaction (the “Company”), with its HSR filing. The Company will be including its 2021 consolidated audited financial statements for purposes of Item 4(b) and will be listing its 2021 revenues for purposes of Item 5(a) as part of the filing. However, in 2022, the Company acquired another company, which became its wholly owned subsidiary. In accordance with Informal Interpretation 1910002, we understand that the Company must report most-recent year revenue for all entities it controls at the time of filing (regardless of whether the Company controlled such entities during the period of the most-recent-year financial statements). Should these additional revenues and applicable NAICS codes be listed in Item 5(a) or in an endnote, and should stand-alone 2021 financial statements for the company acquired in 2022 be provided for Item 4(b)?
Thank you for your guidance.
From: Sent : She inberg, Samuel I. From: Se nt: To: S ubj ect : HSRHelp Mo nday, Auqust 15, 2022 4:50 PM Wa lsh, Kathryn E. ; Berg, Ka ren E. ; Musick, Vessel ina; Sha ffer, Kristin; She inberg, Samuel I.; Six, Anne; Whitehead, Nora FW: HSR filing question - post -recent year acqu isition From: Fetterman, Miche ll e <mfette rman@ftc.gov> Se To: Cc: Su Yes. The addit ional revenues and NAICS codes should be listed in Item S(a ), and you should produce the stand-a lone 2021 financial statements for the company acquired in 2022. -05 :00) Easte rn Time ( US & Canada) To: HSRHe l < HSRHel @ftc. ov > Cc: Su Good morn ing, We are curr ent ly assi sting our cl ient, the acquired person in a transaction (the " Company"), wi th it s HSR filing. The Company will be in cl uding its 2021 consolidated audited financial statements for purposes of Item 4(b) and wil l be listing it s 2021 revenues for purposes of Item S(a) as part of the filing. Howev er, in 2022, the Company acquired another compan y, w hich became its w ho lly owned sub si diary. In accordance w ith Informal Interpretation 1910002, we understand that the Company must report most-rec ent year revenue for all entit ies it controls at the time of fi ling (regardless of whether the Company contro ll ed such entit i es dur ing the period of the mo st- recent-year finan ci al statement s) . Should the se addit iona l revenues and applicable NAICS codes be listed in Item S(a) or in an endnote, and should stand-a lone 2021 financial statements fo r the company acquired in 2022 be provided for Item 4(b )? Thank you for y our guidance, ************************************************************************************************** ****** 1
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