4(c) documents

USA

4(c) documents, Also known as item 4(c) documents. Certain company materials regarding the competitive aspects of a merger or acquisition that must be provided to the Federal Trade Commission and the Department of Justice in a filing required under the Hart-Scott-Rodino Act (HSR) before the transaction closes. These materials are known as 4(c) documents because they are requested in item 4(c) of the HSR notification and report form.

4(c) documents include all studies, surveys, analyses and reports prepared by or for an officer or director of the company (or an individual exercising similar functions, in the case of unincorporated entities) for the purpose of evaluating or analyzing the merger or acquisition concerning:

• Market shares.

• Competition.

• Competitors.

• Markets.

• Potential for sales growth.

• Expansion into product or geographic markets.

For an overview of the reporting requirements which apply to certain mergers and acquisitions under HSR see Practice Note, Hart-Scott-Rodino Act: Overview (www.practicallaw.com/9-383-6234).