Antitrust Litigation, Premerger Filings Remain Busy Despite Government Shutdown – HSR Reviews Slow but Steady
By Mark Smith
In the thick of the federal government shutdown now grinding into its second month, U.S. businesses chasing mergers and battling antitrust suits are finding one silver lining: the engines of premerger filings and private litigation keep humming along. Amid surging Google searches for “government shutdown antitrust impact,” “HSR filings 2025,” “FTC DOJ delays,” “merger review shutdown,” and “antitrust litigation continues,” dealmakers report minimal chaos at the Federal Trade Commission (FTC) and Department of Justice (DOJ).
The shutdown, triggered by congressional gridlock over spending bills on October 1, 2025, has furloughed thousands across federal agencies, including key antitrust enforcers. Yet, the Hart-Scott-Rodino (HSR) Act mandates that premerger notifications must still roll in, and both the FTC and DOJ have pledged to accept and process them—albeit at half-staff capacity. The FTC’s Bureau of Competition, for instance, is operating with about 50% of its personnel exempted from furloughs, ensuring filings don’t pile up unchecked.
This resilience echoes past shutdowns, like the 35-day impasse in 2018-2019, when HSR waiting periods ticked on without pause, though reviews dragged. Early termination requests—fast-tracks for low-risk deals—are suspended for now, forcing companies to sweat the full 30-day clock. As of late October, the Premerger Notification Offices at both agencies remained open, logging filings for everything from tech consolidations to healthcare tie-ups.
Civil antitrust litigation tells a similar story of adaptation. Private suits between companies churn forward in federal courts, which are funded through mid-November via prior appropriations. High-profile cases, such as Equativ’s challenge against Google’s ad tech dominance in Virginia’s Eastern District, advanced without a hitch last week. Government-led probes? That’s where the rubber meets the road: DOJ and FTC attorneys have sought continuances in several matters, stalling discovery in ongoing monopoly hunts.
Antitrust heavyweights are breathing easier than expected. “While we’re bracing for elongated timelines on second requests, the core filing machinery hasn’t seized up,” notes Rebecca Gringer, a partner at Cooley specializing in competition law. Her firm advises clients to pull-and-refile HSR forms if the shutdown lingers, buying agencies breathing room once funding resumes. Over at Wilson Sonsini, counsel warns of “case-by-case ripples in enforcement,” but praises the agencies’ contingency plans hatched pre-shutdown on September 29.
Public and industry reactions skew pragmatic, with deal rooms buzzing on LinkedIn about workaround strategies rather than outright panic. Bar associations and chambers of commerce have lobbied for quick resolutions, highlighting how delays could gum up $2 trillion in annual M&A activity. One anonymous M&A lawyer quipped in a trade forum: “Shutdowns test our patience, not our pipelines—yet.”
For American readers, this steady antitrust pulse means the economy dodges a full-body blow. Mergers fueling job growth in Silicon Valley or Wall Street proceed, albeit slower, stabilizing investor confidence amid broader furlough woes. Politically, it spotlights enforcement priorities: criminal probes into price-fixing rings march on uninterrupted, underscoring Biden-era crackdowns on corporate power. Lifestyle perks? Entrepreneurs eyeing buyouts can still plan family vacations around closing dates, minus the dread of total halts. Tech and pharma sectors, heavy on HSR traffic, face the least lifestyle upheaval, though extended reviews nibble at executive bandwidth.
As bipartisan talks heat up in Congress, the FTC and DOJ eye ramped-up reviews post-funding. For now, with “government shutdown antitrust impact,” “HSR filings 2025,” “FTC DOJ delays,” “merger review shutdown,” and “antitrust litigation continues” topping query charts, the message is clear: antitrust gears grind on, a bulwark against total deal paralysis—though no one’s popping champagne until the lights fully flicker back.
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