2302001 Informal Interpretation

us-ftc-hsr-informal-interpretations-0c993df0830478a773d7ee1da2cf094c2302001 Informal InterpretationGuidance

Date
Rule
801.10
Staff
Nora Whitehead
Response/Comments

Confirmed.

Question

From: Whitehead, Nora <nwhitehead@ftc.gov>
Sent: Thursday, February 9, 2023 3:26:58 PM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Cc: HSRHelp <HSRHelp@ftc.gov>
Subject: RE: Change in deal value after filing

Confirmed.

From: [Redacted]
Sent: Thursday, February 9, 2023 9:20:26 AM (UTC-05:00) Eastern Time (US & Canada)
To: HSRHelp <HSRHelp@ftc.gov>
Subject: Change in deal value after filing

Hi PNO folks. I think I know the answer to this, but want to confirm. We filed an HSR a while back on a transaction that (at the time) appeared valued at $202 million or greater but less than $1,009.8 million. In the intervening weeks, the value (including equity rollover) has gone down, so the deal when it closes will be valued in excess of $101 million but less than $202 million.

I don’t believe we need to do anything, as the HSR was accurate at the time we filed. But I just wanted to confirm I’m not missing anything..

Sheinberg, Samuel I.
From: 	H SRHelp
Sent: 	Thu rs day, February 9, 2023 3:27 PM
To: 	W al sh, Kathryn E. ; Berg, Ka re n E. ; Musick, Vessel ina; Sha ffer, Kristin; Sheinberg, Samuel I. ; Six, Anne;
Fette rma n, Miche ll e
Subject: 	FW : Change in deal va lue aft er filing
From: Whitehead, Nora <n wh itehead@ftc.go v>
Sent: Thursda , Feb r ua 	9, 2023 3:26:58 PM UTC-05:00) Easte rn Time ( US & Canada )
To:
Cc: 	e p < 	e p 	c.gov>
Subject: RE: Change in deal value after filing
Confirmed.
From: HSRHelp <HSRHe lp@ftc.go v>
Sent: Thursda y, February 9, 2023 9:21 AM
To: Walsh , Kathryn E. <kwalsh@ftc.gov>; Berg, Karen E. <KBERG@ftc.gov>; Musick , Vesse li na <vmusick@ftc.gov>;
Shaffer, Kr istin <kshaffer@ftc.gov>; She inberg, Samuel I. <SSHE INBERG@ftc.gov>; Six, Anne <as ix@ftc.gov>; W hitehead,
Nora <nw hitehead@ftc.gov>; Fetterman, Michelle <mfetterman@ftc.gov>
Subject: FW: Change in deal val ue after filing
UTC-05:00) Easte rn Time ( US & Ca nada)
To: HSRHe lp < HSRHelp @ftc.gov>
Subject: Cha nge in deal value after filing
Hi PNO folks. I th ink I know the answ er to this, but w ant to confirm. We filed an HSR a w hile back on a transaction that
(at the t ime) appeared valued at $202 million or greater but l ess than $1 ,009.8 million. In the i ntervening weeks, the
value (in cl uding equity rollov er ) has gone dow n, so the deal w hen it closes wi ll be valued in excess of $101 mi llion but
less than $202 million .
I don't be lieve we need to do anything, as the HSR w as accurate at the time we filed. But I just wanted to confirm I' m
not miss ing anything ..
Thanks,
From:
Sent: 	u rs ay, 	e ruary 	,
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