A bill to amend the Clayton Act to temporarily prohibit certain involuntary acquisitions of persons engaged in commerce or in any activity affecting commerce and to establish an advisory commission to study the effects of voluntary and involuntary mergers.

Summary

Amends the Clayton Act to temporarily prohibit any person engaged in commerce or in any activity affecting commerce from obtaining control of another such person through the acquisition of share capital if: (1) the target person has issued outstanding voting stock which is publicly traded; and (2) a majority (at least two) of the outside members of the board of directors of the target person disapproves such acquisition. Establishes the Advisory Commission on corporate mergers to study the long term and short term effects of merger activity involving corporations the stock of which is publicly traded, including potential positive and negative effects of mergers that occur without the consent of the management of the target corporation. Directs the Commission to report its findings to the President and the Congress within one year. Terminates the Commission 30 days after the submission of its final report. Authorizes appropriations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 28 March 1985

   Introduced

   Introduced in House

   Source: IntroReferral

2. 28 March 1985

   Introduced

   Referred to House Committee on The Judiciary.

   Source: IntroReferral

3. 28 March 1985

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 April 1985

   Referred

   Referred to Subcommittee on Monopolies and Commercial Law.

   Source: Committee

5. 3 April 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 24 April 1985

   Committee

   Executive Comment Requested from Justice.

   Source: Committee

7. 25 April 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 28 March 1985

  Open at official source

Sponsors

• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Sponsor
• · hsju00 · Standing

Related records

No cross-record relationships stored yet.