This article revisits the first fifty years of the U.S. Hart-Scott-Rodino Act to examine how changes to merger notification thresholds have shaped acquisition strategies, industry structure, and antitrust enforcement. Drawing on nearly five decades of data, the authors show that the 2001 increase in reporting thresholds was associated with greater reliance on serial and within-industry acquisitions, particularly in service sectors, raising important questions about which transactions receive reg
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