Antitrust Radar

U.S. premerger notification program / fiscal-year profile

Federal merger review FY2016

October 2015 through September 2016

1,832 reported transactions, 1,772 in the adjusted review universe, and 54 FTC and DOJ Second Requests. This is a record of federal procedure, not a census of all mergers or a finding of competitive harm.

Ten-year positionReported HSR transactions
10 official fiscal years
Reported HSR transactions by fiscal yearTen published annual observations from fiscal year 2016 through 2025. The active fiscal year is highlighted and every point links to its permanent profile.1,83216171819202122232425
FY2016Federal fiscal year: October through SeptemberFY2025
Reported transactions
1,832
Opening year in series
Adjusted universe
1,772
Second Request denominator
Second Requests
54
3.0% of adjusted transactions
Profile coverage
13
1 annual / 12 monthly

Annual review pipeline

Eight measures, kept in their own procedural lanes

FY2016 / exact published counts and rates

Reported transactions, filings, adjusted transactions, in-depth review, and early termination are related administrative fields. They are not sequential conversion stages and do not form an agency performance score.

Notification fieldPublished transaction and filing counts
Reported transactions1,832Opening year in seriesRank 8 of 10 by volume
Filings received3,674Opening year in seriesIndividual filings; not a transaction count
Adjusted review universe1,772Opening year in seriesRank 8 of 10 by adjusted count
In-depth review fieldSecond Requests and their exact denominator
Second Requests54Opening year in seriesRank 4 of 10 by count
Second Request rate3.0%Opening year in seriesRank 1 of 10; adjusted denominator
Early termination fieldPolicy-sensitive requests and grants
Requests1,374272 not grantedRules and publication practices vary by year
Grants1,102Opening year in seriesAdministrative action, not an outcome measure
Grant rate80.2%Opening year in seriesGrants divided by requests

Agency composition

FTC and DOJ Second Requests

54 combined
Federal Trade Commission
25
46.3% of combined requests
Department of Justice
29
53.7% of combined requests

Fiscal-month field

October through September cadence

12 / 12 monthly records
Peak monthNovember243 transactions
Monthly average153reported transactions
Lowest monthJanuary117 transactions
FY2016 monthly HSR activityGrouped bars compare reported transactions and filings received for each federal fiscal month from October through September.October: 168 reported transactionsOctober: 345 filings receivedOctNovember: 243 reported transactionsNovember: 483 filings receivedNovDecember: 157 reported transactionsDecember: 314 filings receivedDecJanuary: 117 reported transactionsJanuary: 236 filings receivedJanFebruary: 127 reported transactionsFebruary: 249 filings receivedFebMarch: 125 reported transactionsMarch: 265 filings receivedMarApril: 129 reported transactionsApril: 249 filings receivedAprMay: 168 reported transactionsMay: 331 filings receivedMayJune: 150 reported transactionsJune: 304 filings receivedJunJuly: 140 reported transactionsJuly: 284 filings receivedJulAugust: 166 reported transactionsAugust: 339 filings receivedAugSeptember: 142 reported transactionsSeptember: 275 filings receivedSepPublished count
Exact FY2016 monthly ledger
Fiscal monthTransactionsTransaction shareFilingsFiling share
01October1689.17%3459.39%
02November24313.26%48313.15%
03December1578.57%3148.55%
04January1176.39%2366.42%
05February1276.93%2496.78%
06March1256.82%2657.21%
07April1297.04%2496.78%
08May1689.17%3319.01%
09June1508.19%3048.27%
10July1407.64%2847.73%
11August1669.06%3399.23%
12September1427.75%2757.49%

Transaction-size field

Reported value-band coverage

No size-band table for this year
Published coverage gap

No transaction-size table for FY2016

The source release provides ten years of annual and monthly HSR activity, but its transaction-size table covers FY2025 only. Antitrust Radar does not infer or backfill value bands for this profile.

Open FY2025 size field

Evidence custody

Coverage, source, and reproducible rows

One official source release
Annual field1 recordComplete for FY2016
Monthly field12 recordsOctober through September
Transaction-size fieldNot publishedAvailable for FY2025 only
Official source

48th Hart-Scott-Rodino Annual Report (FY 2025)

Federal Trade Commission and U.S. Department of Justice

Source reviewed
Jul 18, 2026
Fiscal-year basis
October through September
Ten-year transaction share
8.2%
Interpretation boundary

HSR transactions are notifications reported under the federal premerger program, not a census of every U.S. merger. A reported transaction can involve multiple filings, and the adjusted denominator removes matters for which the agencies could not issue a Second Request.

Second Requests and public enforcement actions are different stages with different timing rules. Their counts must not be treated as a finding that every reviewed or reported transaction was anticompetitive.

Early termination statistics reflect requests and agency action under the rules operating in each fiscal year. Policy and publication changes make this series unsuitable as a standalone measure of enforcement intensity.

Continue the fiscal-year series

Place FY2016 beside its neighbors

The comparison keeps counts, rates, months, and FY2025-only size coverage in separate fields.