New Jersey § 14:3-10

§ 14:3-10.

No corporation of this state engaged in trade or commerce shall acquire, directly

or indirectly, the whole or any part of the stock or other share capital of another

corporation also engaged in trade or commerce, where the effect of such acquisition

may be to substantially lessen competition between the corporation whose stock is

so acquired and the corporation making the acquisition, or to restrain such trade

or commerce in any section or community, or tend to created a monopoly of any line

of trade or commerce. No such corporation shall acquire, directly or indirectly, the whole or any part of

the stock or other share capital of two or more corporations engaged in trade or commerce

where the effect of such acquisition, or the use of such stock by the voting or granting

of proxies or otherwise may be to substantially lessen competition between such corporations,

or any of them, whose stock or other share capital is so acquired, or to restrain

trade or commerce in any section or community, or tend to create a monopoly of any

line of trade or commerce. Nothing contained in this section shall apply to corporations subject to the jurisdiction

of the board of public utility commissioners under Title 48, Public Utilities, nor

to corporations purchasing such stock solely for investment and not using the same

by voting or otherwise to bring about, or in attempting to bring about, the substantial

lessening of competition, nor to prevent a corporation engaged in trade or commerce

from causing the formation of subsidiary corporations for the actual carrying on of

their immediate lawful business, or the natural and legitimate branches or extensions

thereof, or from owning and holding all or a part of the stock of such subsidiary

corporations, when the effect of such formation is not to substantially lessen competition. This section shall not be held to affect or impair any right legally acquired before

March twenty-eighth, one thousand nine hundred and seventeen.