The mergers and acquisitions (M&A) landscape remains a key area of focus for business and legal professionals, reflecting the broader economic climate and regulatory trends. For eDiscovery specialists, understanding the ebb and flow of M&A activity is critical in navigating the complexities of compliance, investigations, and litigation. The most recent statistics from the Premerger Notification Office offer valuable insight into current M&A activity, providing a useful benchmark for gauging the health of the market and its trajectory.
HSR Transaction Data: A Snapshot
The Hart-Scott-Rodino (HSR) Act transaction figures for August 2024 highlight a strong level of activity in the M&A arena. Here are the monthly transaction counts for the calendar year 2024:
- August 2024: 218 transactions
- July 2024: 201 transactions
- June 2024: 163 transactions
- May 2024: 179 transactions
- April 2024: 162 transactions
- March 2024: 136 transactions
- February 2024: 135 transactions
- January 2024: 170 transactions
In August 2024, the Premerger Notification Office recorded 218 transactions under the Hart-Scott-Rodino (HSR) Act, marking a notable rise from the 201 transactions reported in July. This growth underscores the ongoing robustness of M&A activity, even in the face of challenges. Transaction volumes throughout the year have varied, influenced by factors such as increased regulatory scrutiny and shifting economic conditions. Despite obstacles like inflation and fluctuating interest rates, the M&A market has demonstrated impressive resilience, with August standing out as the most active month of the year for HSR filings. Additionally, with one month remaining in fiscal year 2024, the cumulative total of 1,885 transactions has already surpassed the 1,884 transactions recorded for the entirety of fiscal year 2023, further highlighting the sustained strength of the M&A landscape.
Transaction Charts
Taken from the latest published Hart-Scott-Rodino (HSR) Premerger Notification monthly transactions as shared by the Federal Trade Commission (FTC) and augmented by released annual reports, the following transaction charts may be useful for law firms, legal departments, and legal service providers seeking to understand the real-time pulse rate of Hart-Scott-Rodino Act mandated transaction reviews. As these reviews may lead to Second Requests, the charts may also be useful as a baseline for considering provider assertions regarding the depth, breadth, and volume of their Second Request support for this unique type of eDiscovery during specific time frames.
Chart 1: HSR Act Annual Transactions Reported in Fiscal Years 2000 – 2024*/**
HSR Act Merger Transactions Reported - FY 2024 - August 2024Chart 2: Monthly HSR Act Transactions Reported in the Fiscal Year 2024 (October-September)*
HSR Act Merger Transactions Reported - FY 2024 - August 2024Chart 3: Monthly HSR Act Transactions Reported in the Fiscal Year 2023 (October-September)*
HSR Act Merger Transactions Reported - Monthly - FY 2023 - August 2024*Monthly Real-Time Reporting – First Report is October 2019 (Monthly Running Report)
**Based on Annual Reporting as Represented in Final Annual HSR Transaction Reports.
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SOURCE: HaystackID
