Bill > SB25

This bill, known as the Uniform Antitrust Premerger Notification Act, requires businesses that are already required to file a Hart-Scott-Rodino (HSR) premerger notification with the federal government to also submit a copy of that notification to the California Attorney General under specific conditions. These conditions include having a principal place of business in California or having annual net sales in the state that represent at least 20% of the federal filing threshold. Companies must electronically file the HSR form and, if requested, provide additional documentary materials. The Attorney General is prohibited from publicly disclosing these confidential filings, with limited exceptions for administrative or judicial proceedings, and can share information with other state attorneys general under certain conditions. The bill allows the Attorney General to impose filing fees ($1,000 for principal place of business filings and $500 for other filings) and civil penalties up to $10,000 per day for non-compliance. The legislation is designed to protect sensitive business information and prevent potential securities law violations or anticompetitive conduct, and will only apply to premerger notifications filed on or after January 1, 2026. The bill emphasizes the importance of maintaining the confidentiality of these business merger documents while providing state-level oversight of significant business transactions.

Budget and Finance, Justice

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB25