United States of America: Entry into force with grace period of Merger Filing Fee Modernisation Act of 2022 through the engrossed Consolidated Appropriations Act 2023 (HR 2617)

On 29 December 2022, the Merger Filing Fee Modernization Act of 2022 entered into force after being signed into law by the US President on the same day. The Merger Filing Fee Modernization Act of 2022 was incorporated into the Consolidated Appropriations Act 2023 (HR 2617). In particular, the Act changes the merger filing fees that entities have to pay to the Federal Trade Commission (FTC) for the review of the proposed acquisition. Starting with the fiscal year commencing after 30 September 2023, the fees will be increased for transactions of over USD 1 billion and will be calculated yearly and adjusted according to the Consumer Price Index. The Act requires larger merger and acquisition requests to be sent to the FTC and the Department of Justice (DOJ) for approval.