Celler–Kefauver Act is a United States federal law passed in 1950 that reformed and strengthened the Clayton Antitrust Act of 1914 which had amended the Sherman Antitrust Act of 1890. The Celler–Kefauver Act was passed to close a loophole regarding asset acquisitions and acquisitions involving firms that were not direct competitors. While the Clayton Act prohibited stock purchase mergers that resulted in reduced competition, shrewd businessmen were able to find ways around the Clayton Act by simply buying up a competitor's assets. The Celler–Kefauver Act prohibited this practice if competition would be reduced as a result of the asset acquisition.
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Kefauver, Estes (May 1948). "Needed Changes in Legislation". The American Economic Review. 38 (2): 182–202. JSTOR1910491.
Miller, Richard A. (Winter 1984). "Notes on the 1984 Merger Guidelines: Clarification of the Policy or Repeal of the Celler-Kefauver Act?". The Antitrust Bulletin. 29 (4): 653–662.
Mueller, Willard F. (16 October 1967). The Celler-Kefauver Act: Sixteen Years of Enforcement (Report). Staff Report to the Antitrust Subcommittee of the House Judiciary Committee. Washington, D.C.: U.S. Government Printing Office. OCLC452803. also available as "The Celler-Kefauver Act: Sixteen Years of Enforcement". Journal of Reprints for Antitrust Law and Economics. 1 (1): 113–178. Spring 1969.