InterDigital Inc (IDCC)

[olddog967]

gabeh: Under the Hart-Scott-Rodino - Premerger Notification Program, both parties to the proposed transaction are required to submit notification to the FTC abd DOJ. I would assume that the parties would wait to submit close to the end of any bidding/negogtiation process.

The Hart-Scott-Rodino Act established the federal premerger notification program, which provides the FTC and the Department of Justice with information about large mergers and acquisitions before they occur. The parties to certain proposed transactions must submit premerger notification to the FTC and DOJ. Premerger notification involves completing an HSR Form, also called a “Notification and Report Form for Certain Mergers and Acquisitions,” with information about each company’s business. The parties may not close their deal until the waiting period outlined in the HSR Act has passed, or the government has granted early termination of the waiting period.

http://www.ftc.gov/bc/hsr/

Note: for the Nortel auction both Google and Apple (each in conjunction with Nortel) submitted and received pre auction bidding approvals.

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Could one of the parties to an agreement seek DOJ opinion before the final round bids are made to clarify the likelihood of eventual DOJ approval?