A bill to amend the Clayton Act by modifying the notification requirements applicable to mergers and tender offers, and for other purposes.

Amends the Clayton Act to prohibit acquisitions which would substantially lessen potential competition.

Eliminates the 15-day waiting period (and thus requires a 30-day waiting period) following notification of a proposed acquisition in the case of a cash tender offer.

Requires the 30-day acquisition waiting period to be extended for an additional 30 days (or 60 days if, after the acquisition, the U.S. assets or probable annual U.S. sales of the acquiring person would exceed $1,000,000,000) if the Federal Trade Commission or the Attorney General requires submission of additional information or documentary material concerning the proposed acquisition.