Skip to main content
HR 5972 98th Congress House Finance and Financial Sector Civil actions and liability Corporate reorganizations Corporations and Stocks Courts and Civil Procedure Injunctions Securities and Investments Securities regulation Stockholders Stocks Tender offers

A bill to amend the Securities and Exchange Act of 1934.

Introduced: June 28, 1984 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 29, 1984
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
Jun 28, 1984
Referred to House Committee on Energy and Commerce.
Jun 28, 1984
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Securities and Exchange Act of 1934 to require any person making a tender offer, or request or invitation for tenders, to hold such offer, request, or invitation open for a period of at least 60 days. Exempts from this requirement any such offer, invitation, or request by the issuer for the class of securities being sought if the offer, invitation, or request is not made in anticipation of or response to another person's offer, request, or invitation.

Prohibits any issuer of registered securities from engaging in any transaction in contemplation of effecting, or of defending against, a change in control of such issuer that is not prudent for the issuer and fair to the issuer's security holders. Permits the Securities and Exchange Commission or any security holder of such issuer to bring a suit in the proper district court to enjoin any such transaction and for such other equitable relief as may be appropriate.

Applies the provisions of this Act to transactions taken by an issuer or by any officer or director on or after June 1, 1984.

What's happening now June 29, 1984

Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1