Premerger Notification Office
Bureau of Competition
Federal Trade Commission
6th & Pennsylvania Avenue, NW, Room 303
Washington, D.C. 20580
A U.S. person (U) is acquiring the voting securities of a foreign subsidiary of a foreign person (F) as well as the assets of some of F’s other foreign subsidiaries. These acquisitions (Main Transaction) are all exempt under section 801.50(a) or (b). U and F meet the size-of-person test. The consideration to F is newly issued stock of a subsidiary of U. The stock of U’s subsidiary is not publicly traded, but the value of the consideration exceeds $15 million, making the stock acquisition by F reportable.
There are documents that would be submitted under item 4(c) if the Main Transaction were not exempt. The question is whether they must be submitted in the acquisition of the voting securities of U’s subsidiary by F.
I’d appreciate your thoughts.