A bill to amend the act commonly called the Clayton Act to provide for premerger notification and stay agreements.

Summary

Provides, under the Clayton Act, that, notwithstanding any other provision of law, no person or persons shall acquire, directly or indirectly, the whole or any part of the stock or other share capital or of the assets of another person or persons, if the acquiring person or persons, or the person or persons the stock or assets of which are being acquired, or both, are engaged in commerce or in any activity affecting commerce, and (1) (A) the acquiring person or persons have total assets or annual net sales in excess of $100,000,000 and (B) the person or persons the stock or assets of which is being acquired have total assets or annual net sales in excess of $10,000,000; or (2) (A) the acquiring person or persons have total assets or annual net sales in excess of $10,000,000 and (B) the person or persons the stock or assets of which are being acquired have total assets or annual net sales in excess of $100,000,000; until 30 days after such person files a premerger notification with the Federal Trade Commission and the Antitrust Division of the Justice Department. Provides for a civil penalty of not more than $10,000 for each day during which such person directly or indirectly holds stock or assets in violation of this Act. Exempts specified classes of transactions from notification requirements of this Act.

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Documents

1 official file

• Introduced in House

  summary · EN · 8 April 1976

  Open at official source

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