If any of the individuals involve in this transaction meets the size-of-person test and size-of-transaction test then it is probably reportable. Since the ban has $55 million in assets, the$10 million dollar person is satisfied. Consequently, if any of the individuals are $100million person then they may have to report.Are the individuals forming a Corp? - No. Theproposed rule changes package of 7-29-81 would exempt these types of transactions.[Additional comments not readable.]
March 23, 1983
Roberta Baruch, Esq.
Deputy Assistant Director
Premerger Notification Office
Federal Trade Commission
7th & Pennsylvania Avenue, N.W.
Washington, D.C. 20580
Dear Ms. Baruch:
This letter is to confirm our telephone conver-
sation of Monday, March 21, 1983, regarding the aplica-
tion to newly-formed partnership of the premerger noti-
fication requirement of Title II of the Hart-Scott-
Rodino Antitrust Improvements Act of 1976, Pub. L. 94-435,
90 Stat. 1390, 15 U.S.C. 18a.
Our understanding is that premerger notification
is not required of a partnership if the partnership is
newly formed and has either no assets or assets less than
$10 million other than assets to be used as consideration
in making an acquisition.
If our understanding is either incorrect or in-
complete, it would be appreciated if you would so advise
us. Thank you for your assistance.
With best regards.