An American
antitrust law passed in 1950 that closed a major loophole in the
Clayton Act. While the Clayton Act prohibited
mergers that reduced
competition, it allowed companies to
buy individual
assets of competitors. Some companies did this to such an extent that it reduced competition, which had the potential to effectively sideline the Clayton Act. The Celler-Kefauver Act closed this loophole, giving the government the power to stop
vertical mergers and
asset acquisitions regarded as reducing competition. It is often simply called the
Antimerger Act.