A bill to amend the Clayton Act regarding consent judgements.

Summary

Amends the Clayton Act to prohibit any Federal Trade Commission consent agreement, any consent decree proposed to a court by the Commission or the Attorney General, or any Commission or court order which provides for divestiture by a party to any acquisition from becoming final before the divestiture has been approved by the Commission or the court. Permits the consent decree, agreement, or order to be rescinded and the Commission or the Attorney General to petition the court for further relief, if the divestiture is not approved. Provides that no divestiture shall be deemed an acceptable remedy for an acquisition which substantially lessens competition unless the divestiture fully restores competition lost as a result of the acquisition and there is a substantial likelihood that any buyer of divested assets will be a viable competitor for the foreseeable future. Directs the Attorney General, the Commission, and the court, in approving divestitures, to insure that reasonable steps are taken to protect the interests of affected employees and to preserve employment consistent with the full restoration of competition. Entitles a State's attorney general to intervene in a court proceeding to determine whether a proposed merger providing for the divestiture of enterprises or facilities which collectively employ more than 100 persons full-time in such State is in the public interest.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 18 March 1987

  Open at official source

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