Sec. 3. Amendments to the pre-merger notification and waiting period
654 words·~3 min read·
/bill/118/s/4412/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7A of the Clayton Act ( 15 U.S.C. 18a ) is amended— in subsection (d)— in paragraph (1), by striking ; and and inserting , including the Sherman Act ( ; and 15 U.S.C. 1 et seq. ), the Clayton Act ( 15 U.S.C. 12 et seq. ), and the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ), and include, at a minimum: by inserting after paragraph
(1)the following: The number and percentage of employees of the acquiring person and acquired person that are subject to a collective bargaining agreement and, as applicable, the contact information for any affected labor organization, as defined in section 2 of the National Labor Relations Act ( 29 U.S.C. 152 ). All agreements to remain neutral during an organizing campaign by the employees of the acquiring person or acquired person for representation by a labor organization. All studies, surveys, analyses, and reports that were prepared by or for any officer or director of the person (or any individual exercising similar functions) for the purpose of evaluating or analyzing the transaction with respect to the effects on labor markets or the employees of the acquiring person or acquired person. Information sufficient to allow the evaluation of potential labor market effects arising from the transaction, including— the 5 largest categories of employees, in which both the acquiring person and the acquired person employ workers, as identified by the relevant 6-digit code under the Bureau of Labor Statistics Standard Occupational Classification System; the total number of employees for each code identified in clause (i); the commuting zones, as determined by the Economic Research Service of the Department of Agriculture, from which the employees identified under clause
(ii)commute; and any penalties or findings that were issued against either the acquiring person or the acquired person by the Administrator of the Wage and Hour Division of the Department of Labor, the National Labor Relations Board, or the Assistant Secretary of Labor for Occupational Safety and Health during the 5-year period preceding the notification; and ; and in subsection (e)— in paragraph (1)— by redesignating subparagraph
(B)as subparagraph (C); and by inserting after subparagraph
(A)the following: The Federal Trade Commission or the Assistant Attorney General shall, prior to the expiration of the 30-day waiting period (or in the case of a cash tender offer, the 15-day waiting period) specified in subsection (b)(1) of this section, require the submission of additional information or documentary material relevant to the proposed acquisition, from a person required to file notification with respect to such acquisition under subsection
(a)of this section prior to the expiration of the waiting period specified in subsection (b)(1) of this section, or from any officer, director, partner, agent, or employee of such person if the Federal Trade Commission or Assistant Attorney General has reason to believe that the transaction may result in harm to competition in labor markets, including— any reduction in employment resulting from the merging of overlapping employment classifications; any reduction in worker bargaining power, including potential elimination of jobs subject to a collective bargaining agreement; and any offshoring of jobs currently located in the United States. ; and by adding at the end the following: The Federal Trade Commission or the Assistant Attorney General shall extend the 30-day waiting period (or in the case of a cash tender offer, the 15-day waiting period) specified in subsection (b)(1) of this section for an additional period of 60 days if an affected labor organization submits documents or information under subsection
(l)that could reasonably raise questions as to whether the transaction may— materially harm the interests of the employees represented by the labor organization; or violate the antitrust laws, including the Sherman Act ( 15 U.S.C. 1 et seq. ), the Clayton Act ( 15 U.S.C. 12 et seq. ), and the Federal Trade Commission Act ( 15 U.S.C. 41 et seq. ). .
Connectionstraces to 5
Citation graph
cites case law
Sec. 3
Amendments to the pre-merger notification and waiting period
Cites 5Cited by 0 across 0 sources