A bill to amend the Clayton Act to modify the notification requirements applicable to mergers and tender offers.

Summary

Amends the Clayton Act to eliminate the 15-day waiting period (and thus require a 30-day waiting period) following notification of a proposed acquisition in the case of a cash tender offer. Prohibits the Federal Trade Commission or the Assistant Attorney General from prematurely terminating the waiting period in the case of a nonqualifying cash tender offer. Authorizes the Commission or the Assistant Attorney General to extend the waiting period for up to 60 additional days if the acquiring person, upon completing the proposed acquisition, would hold assets or have annual net sales in the United States exceeding $1,000,000,000.

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Documents

1 official file

• Introduced in House

  summary · EN · 7 February 1985

  Open at official source

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