This chapter shall not apply when:
I. The offeror or the target company is a public utility or a public utility holding company as defined in section 2 of the “Public Utility Holding Company Act of 1935” (49 Stat. 803, 15 U.S.C. § 79 et seq.), as amended, and the takeover bid is subject to approval by the appropriate federal agency as provided in said act;

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II. The offeror or the target company is a bank or a bank holding company subject to the “Bank Holding Company Act of 1956” (70 Stat. 133, 12 U.S.C. § 1841 et seq.), and subsequent amendments thereto, and the takeover bid is subject to approval by the appropriate federal agency as provided in said act;
III. The offeror or the target company is a savings and loan holding company as defined in section 2 of the “Savings and Loan Holding Company Amendments of 1967” (82 Stat. 5, 12 U.S.C. § 1730a), as amended, and the takeover bid is subject to approval by the appropriate federal agency as provided in said amendments;
IV. The offeror and the target company are banks and the offer is part of a merger transaction subject to approval by appropriate federal supervisory authorities;
V. The target companies are incorporated insurance agencies subject to regulation under Title XXXVII.