A bill to amend the Clayton Act to temporarily prohibit hostile corporate takeovers of domestic petroleum corporations.

Summary

Amends the Clayton Act to temporarily prohibit any person engaged in commerce or in any activity affecting commerce from acquiring control of a domestic petroleum corporation if the corporation disapproves the acquisition. Defines "control" as the acquisition of more than four percent of the stock, share capital, or assets of the corporation. Directs the Secretary of Energy, the Federal Trade Commission, the Securities and Exchange Commission, and the Federal Reserve Board to investigate and report to the Congress on the effects of such prohibited corporate takeovers on domestic petroleum supplies, competition in the marketing of petroleum products, petroleum industry financing methods, and credit markets, respectively.

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Timeline

1. 19 February 1985

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 19 February 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 30 April 1985

   Committee

   Committee on Judiciary requested executive comment from Justice Department, Commerce Department, Federal Trade Commission.

   Source: Committee

4. 1 May 1985

   Committee

   Committee on Judiciary. Hearings held.

   Source: Committee

5. 29 May 1985

   Committee

   Committee on Judiciary received executive comment from Federal Trade Commission.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 19 February 1985

  Open at official source

Sponsors

• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Rudman, Warren [R-NH] · R · Cosponsor
• · ssju00 · Standing

Related records

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