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0105005 Informal Interpretation
us-ftc-hsr-informal-interpretations-1a9193895abcfac17fdb4960b48598100105005 Informal InterpretationGuidance
Date
Rule
802.30
Response/Comments
If the distribution is pro-rata to the shareholders holdings in Corp. A. This will be exempt under 7A(c )(10 ).
Question
Date: Tue, May 15, 2001
Subject: HSR advice
This is a 3 step transaction as follows (assume size of parties and size of transaction are satisfied in each step):
1. Corp X transfers assets to NewCo. NewCo is wholly owned by X - This should be exempt under 802.30.
2. Corp X transfers common stock to Corp A. Corp A holds 100% of the voting securities of Corp X - This should also be exempt under 802.30.
3. NewCo distributes its stock to shareholders of Corp A - Would this also be exempt since these shareholders of A will now hold directly what they already held indirectly? Please advise. Thanks.
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