1110016 Informal Interpretation

Date:
Rule:
802.4
Staff:
Michael Verne
Response/Comments:

  - Yes -you can use it on a minority acquisition of voting securities, but you can't value the non-exempt assets pro rata to the percentage you are acquiring. You still need to value 100% of the non-exempt assets.

Question

From:

(Redacted)

Sent:

Thursday, October 20, 2011 12:27 PM

To:

Verne, B. Michael

Subject:

quick question

Hi, Mike. Quick question.I don't think I've seen an informal interpretation that addresses this. Can youuse 802.4 in the context of a minority acquisition? All of the examples andinterpretations seem to contemplate obtaining control.

About Informal Interpretations

Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

Learn more about Informal Interpretations.