On the recordSeptember 28, 1998
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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