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0603019 Informal Interpretation
us-ftc-hsr-informal-interpretations-551b85a71a5270eea380c8afeceabfeb0603019 Informal InterpretationGuidance
Date
Rule
802.2
Response/Comments
If it still requires considerable work before it can begin operations, it can be exempted as unproductive real property. See 61 FR @ 13674 (March 28, 1996). The SBP for new facilities stated the following: "However, if the facility requires a substantial amount of additional construction or outfitting, it may not be classified as a new facility but may qualify as unproductive real property as defined in new Sec. 802.2(c).
Question
From: (redacted)
Sent: Wednesday,March 22, 2006 8:32 PM
To: Verne,B. Michael
Subject: Plantunder Construction
Mike,
If a plant that is underconstruction by one corporation is being acquired by another corporation for anamount in excess of $56.7 million, is a HSR required?
The plant was beingconstructed for use by the seller. I believe it is excluded from the exemptionin 802.2(c) by (i).
However, the plant does notgenerate revenues. It seems like an unnecessary filing.
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