if each of the corporations has capital, surplus, and undivided profits aggregating more than $10,000,000 as adjusted pursuant to paragraph (5) of this subsection.
For purposes of this paragraph, "competitive sales" means the gross revenues for all products and services sold by one corporation in competition with the other, determined on the basis of annual gross revenues for such products and services in that corporation's last completed fiscal year. For the purposes of this paragraph, "total sales" means the gross revenues for all products and services sold by one corporation over that corporation's last completed fiscal year.
15 U.S.C. § 19
REFERENCES IN TEXTThe antitrust laws, referred to in subsec. (a)(1)(B), are defined in sectionof this title.
AMENDMENTS1993-Subsec. (a)(5). Pub. L. 103-203 substituted "January 31" for "October 30". 1990- Pub. L. 101-588 amended section generally, completely revising it in form by substituting text divided into a subsec. (a) consisting of five numbered paragraphs and a subsec. (b) consisting of a single unnumbered paragraph for former provisions which had consisted of a series of five undesignated paragraphs, and in substance by increasing the jurisdictional threshold for application of the section to corporations from $1,000,000 in net worth to $10,000,000 in net worth, creating three "de minimis" exceptions to applications of the section in cases of insignificant competitive overlaps, and expanding the section to cover officers elected or chosen by the Board of Directors.1935-Act Aug. 23, 1935, amended section generally.1929-Act Mar. 2, 1929, amended second par.1928-Act Mar. 9, 1928, amended second par.