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Yes - they are acquiring voting securities of a new issuer (combined Able and Baker) not voting securities of a "successor" to Able. N. Ovuka agrees. 10/21/99
Note #1 - Agree. Agree that acquisition price does not exceed $15 mm. Advised caller that the board of the acquiror must also determine that the fair market value of the assets will not exceed $15 mm...
Writer asked me to review this in Dick Smith's absence. The assets being sold do not constitute an operating unit. Exempt as ordinary course of business. P. Sharpe concurs. B. Michael Verne 10/19/99