H.R.659 - Standard Merger and Acquisition Reviews Through Equal Rules Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Farenthold, Blake [R-TX-27] (Introduced 01/24/2017)|
|Committees:||House - Judiciary|
|Latest Action:||04/05/2017 Ordered to be Reported by the Yeas and Nays: 16 - 10. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.659 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (01/24/2017)
Standard Merger and Acquisition Reviews Through Equal Rules Act of 2017
This bill amends the Clayton Act with respect to notice to a state by the Department of Justice (DOJ) about federal actions brought for violations of antitrust laws.
The Federal Trade Commission (FTC) shall exercise the same authority and procedures as DOJ under the Clayton Act if the FTC has brought an action under Section 7 of the same Act with respect to the prohibition against acquisition by one corporation of the stock of another (merger) that may substantially lessen competition or tend to create a monopoly.
The Federal Trade Commission Act (FTCA) is amended to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from ordinary FTC proceedings, except in cases where the FTC approves an agreement with the parties to the transaction that contains a consent order.
U.S. district courts shall have jurisdiction to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that may result in an unfair method of competition.