Long-Term Investment, Competitiveness, and Corporate Takeover Reform Act of 1990

[AI summary unavailable — showing source text] Long-Term Investment, Competitiveness, and Corporate Takeover Reform Act of 1990 - Amends the Securities Exchange Act of 1934 to reduce from ten days to five days the period within which the owner of more than five percent of certain securities must file ownership disclosure statements. Prohibits additional purchases by such a person until such statements have been filed. Requires that tender offers (and invitations therefor) be held open for at least 45 business days, and that well-financed offers (not highly leveraged) be held open for at least 30 business days. Increases the open-offer period to 95 business days if a qualified employee stock ownership plan announces its intention to acquire additional securities on substantially equivalent terms. Entitles an issuer of securities to the profits realized by a five-percent shareholder who: (1) made a tender offer within six months preceding any disposition of the securities; and (2) held such securities less than six months prior to dispositions. Requires the new owner of a plant or facility acquired through such securities transactions to abide by the terms of any existing collective bargaining agreement for a 180-day period after…