[Congressional Record Volume 144, Number 132 (Monday, September 28, 1998)]
[House]
[Page H9091]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            ISSUE OF HOSTILE TAKEOVERS NEEDS TO BE EXAMINED

  (Mr. GEKAS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. GEKAS. Mr. Speaker, the issue of hostile takeovers has risen in 
resonance over the last several years whereby one company seeks, by 
methods that are sometimes not clear to everyone, to take over another 
entity.
  In our own district in Pennsylvania, Amp, Incorporated, which employs 
thousands of people in our area and which has a tremendous, widely 
accepted reputation internationally for commercial activity, is now the 
target of such a hostile takeover. The results of such a move could 
result in the loss of jobs and in the loss from our community of an 
entity which has always been community-minded, and which has helped in 
a thousand different ways the stability, both economic and social, of 
our area.
  We in the Congress owe it to ourselves and to the American public to 
examine this issue of hostile takeovers, to see how in the long run it 
can be removed from the scene and normal commercial activity take its 
place.




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