nov 14, 1950 - Celler-Kefauver Act

Description:

The Federal Act that amended the Clayton Act by prohibiting the acquisition of the assets of one firm by another firm when the effect would be less competition.

This act closed the loophole in Section 7 of the Clayton Act, which was that firms could acquire the physical assets of competing firms instead of merging. Now, with the Celler-Kefauver Act in place, the Clayton Act prohibits anticompetitive mergers no matter how they are undertaken.

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