Law360, New York (September 4, 2015, 12:08 PM EDT) -- On July 20, 2015, the Federal Trade Commission Premerger Notification Office issued updated guidance regarding how the PNO will interpret and apply the exemption for investment rental property set forth in 16 C.F.R. § 802.5 of the regulations promulgated under the Hart-Scott-Rodino Antitrust Improvements Act.[1] This guidance supersedes all prior informal interpretations and advice issued by the PNO regarding Rule 802.5. In addition, in a more recent brief post on the main Premerger Notification Program page of the FTC's website, the PNO provided additional guidance limiting the availability of the warehouse exemption set forth in 16 C.F.R. § 802.2(h).[2]...