9407010 Informal Interpretation

(redacted) 7/29/94-called writer-he said phrase (or trusts therefor) on pg 1 has included (redacted)trust holdings with those of stockholder settlor of beneficiary. On pg.2 there are no portable voting stock acquisitions of Company X aby stockholders of A resulting from the merger. Referenced FTC mean “the PMN Office: on pg 4, the financials for the (redacted) corporations are for 1993 and the balance sheets are of a date within 7 months of the proposed closing. I advised that the “reorganization” and the sale of the Real Estate Company were exempt. [note 1-located in the U.S.]-[note 2-book value]