Companies required to send advance notice of proposed mergers to federal regulators will also have to give a heads-up to California officials under legislation Gov. Gavin Newsom (D) signed Tuesday.
The bill (SB 25) requires companies that already give federal regulators notice of deals under the Hart-Scott-Rodino Act to also submit the same disclosures to the state. The measure, which takes effect in 2027, applies to companies that are headquartered in the state or sell a certain share of products and services in California.
The law is based on model legislation from the Uniform Law Commission, a nonpartisan ...