SENATE BILL No. 561

June 26, 2001, Introduced by Senators KOIVISTO, YOUNG, SMITH, MURPHY, SCOTT,

DE BEAUSSAERT, CHERRY, LELAND, EMERSON, MILLER, HART and BYRUM

and referred to the Committee on Transportation and Tourism.

A bill to amend 1984 PA 274, entitled

"Michigan antitrust reform act,"

(MCL 445.771 to 445.788) by adding section 3a.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 SEC. 3A. (1) A PERSON SHALL NOT ACQUIRE, DIRECTLY OR INDI-

2 RECTLY, THE WHOLE OR ANY PART OF THE STOCK, SHARE CAPITAL, OR

3 OTHER EQUITY INTEREST OR THE WHOLE OR ANY PART OF THE ASSETS OF,

4 ANOTHER PERSON ENGAGED IN MICHIGAN COMMERCE, IF THE EFFECT OF THE

5 ACQUISITION MAY BE SUBSTANTIALLY TO LESSEN COMPETITION OR TO TEND

6 TO CREATE A MONOPOLY OF ANY LINE OF MICHIGAN COMMERCE.

7 (2) THIS SECTION DOES NOT APPLY TO A PERSON PURCHASING THE

8 STOCK OR OTHER EQUITY INTEREST OF ANOTHER PERSON SOLELY FOR

9 INVESTMENT AND NOT USING THOSE ASSETS BY VOTING OR OTHERWISE TO

10 BRING ABOUT, OR ATTEMPT TO BRING ABOUT, THE SUBSTANTIAL LESSENING

11 OF COMPETITION. THIS SECTION DOES NOT PREVENT A PERSON ENGAGED

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2

1 IN MICHIGAN COMMERCE FROM CAUSING THE FORMATION OF A SUBSIDIARY

2 CORPORATION OR OTHER BUSINESS ORGANIZATION OR FROM OWNING AND

3 HOLDING ALL OR A PART OF THE STOCK OR EQUITY INTEREST OF THAT

4 SUBSIDIARY CORPORATION OR OTHER BUSINESS ORGANIZATION.

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