legislation: 98-hr-5153
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| 98-hr-5153 | 98 | hr | 5153 | Basic Industries Merger, Acquisition, and Joint Ventures Study and Moratorium Act | Commerce | 1984-03-15 | 1984-03-21 | Subcommittee Hearings Held. | House | Rep. Florio, James J. [D-NJ-1] | NJ | D | F000215 | 2 | Basic Industries Mergers, Acquisitions, and Joint Ventures Study and Moratorium Act - Amends the Federal Trade Commission Act to require the Federal Trade Commission to conduct a comprehensive study and report to the President and Congress on the trend, causes, and effects of mergers, acquisitions, and joint ventures involving petroleum companies, leading domestic automobile companies, and leading foreign automobile companies. Permits the Commission to designate other industries for inclusion in such study upon finding that mergers, acquisitions, or joint ventures involving companies in such an industry threaten national security, competition, employment, economic stability, innovation, or international competitiveness. Directs the Commission to evaluate specifically: (1) the trend of major energy concerns to acquire domestic petroleum supplies by acquiring domestic petroleum companies rather than through exploration and development of new petroleum reserves; and (2) the trends of domestic automobile manufacturers to import automobiles and components and to enter into joint ventures with foreign automobile manufacturers for marketing or production. Prohibits, during the period beginning on January 1, 1984, and ending with the expiration of the 16th month after enactment of this Act: (1) any person from acquiring control of a substantial energy reserve holder through a merger; (2) any leading domestic automobile manufacturer from acquiring control of another leading domestic automobile manufacturer or a leading foreign automobile manufacturer through a merger; (3) a leading foreign automobile manufacturer from acquiring control of a leading domestic automobile manufacturer through a merger; and (4) any leading domestic or foreign automobile manufacturer from being a party to a joint venture with another leading domestic automobile manufacturer for the production or marketing of motor vehicles for sale in the United States. Directs the Commission to specify the restrictions that shall apply during such period to classes of companies in industries designated for inclusion in the study. Authorizes the Commission or any aggrieved party to bring an action in the appropriate U.S. district court to enjoin any person from engaging in any activity in violation of the prohibitions or restrictions prescribed under this Act. Directs the court, upon proper showing, to grant a temporary restraining order or a preliminary or permanent injunction. Permits the court to provide for other appropriate relief. | 2025-08-29T17:42:09Z |