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You can subsume the A-B transaction in the reportable A-C transaction under the continuum theory as long as the two agreements are conditioned on one another and will occur contemporaneously. So only...

Agree the primary acquisitions are exempt. The secondary acquisitions of X are potentially reportable.

This is the correct analysis. I'm sorry if my advice mislead you in the previous analysis. Having an irrevocable proxy to vote 50% or more of the voting securities of an issuer does confer control...

The combination of irrevocable proxies with direct holding of voting securities that results in the ability to vote 50% or more of the shares does confer control. I think that the analysis in your...

Agree.

Under exempt assets Im not sure what field processing pants are. Otherwise they look OK.

Agree

Yes to both new parent is deemed to be a successor to A as long as all it hold as a result of the reorganizations is A and anything A holds.

The entire 15% ownership of LLC B is attributed to the 52% member, I would assume that if the 15% was sold to a third party the considerations would be divided among all of the members of LLC A.

No any security with a current right to vote for the election of directors should be included in determining the value of the transaction.

Agree. M Verne concurs.