Honorable Robert Bunda

President of the Senate

Twenty-Third State Legislature

Regular Session of 2005

State of Hawaii

Sir:

Your Committee on Judiciary and Hawaiian Affairs, to which was referred S.B. No. 702, S.D. 1, entitled:

begs leave to report as follows:

The purpose of this measure is to update Hawaii's antitrust laws governing mergers and acquisitions.

The Department of the Attorney General and one individual testified in support of the measure.

This measure amends Hawaii's mergers and acquisitions law so that it applies to various forms of business entities, including corporations, firms, trusts, partnerships, limited partnerships, limited liability partnerships, limited liability limited partnerships, and limited liability companies. This measure also permits a party whose business may be harmed by a monopoly to seek injunctive relief against a threatened loss or injury without having to allege or prove actual loss or injury. Your Committee finds that these provisions will conform state law to federal law.

Your Committee has amended this measure by amending the injunctive relief provision to permit a party to seek injunctive relief against a threatened "loss or damage" instead of "loss or injury" to conform Hawaii's law to the federal statute on antitrust.

As affirmed by the record of votes of the members of your Committee on Judiciary and Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 702, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 702, S.D. 2.