Question
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VIA FACSIMILE (202) 326-2050
Mr. Patrick Sharpe
Premerger Notification Office
Bureau of Competition
Federal Trade Commission
600 Pennsylvania Avenue, NW, Room 303
Washington, D.C. 20580
Dear Mr. Sharpe:
This letter confirms our conversation of August 31, 1990. An individual holds more than 50% of the stock of a corporation whose sole asset is a golf course. The corporations most recently prepared balance sheet not more than 15 months old lists the asset value of the golf course at no more than $2,000,000. Purchaser will be purchasing all of the corporations stock for approximately $20,000,000.
The individual has no balance sheets or financial statements prepared for his own assets. In determining the size of the individual, you indicated that the fair market value of the individuals stock in the corporation is not counted, instead, the $2,000,000 carried on the balance sheet of the corporation is counted, along with other investment assets.
We will assume that this analysis is correct unless we hear from you otherwise by September 7, 1990. If you have any questions, you can call me at the above.
Very truly yours,
(redacted)
(redacted)
cc:(redacted) Esq.
(redacted) Esq.
cc: (redacted)