Question
From: (redacted)
Sent: Friday, July 29, 2005 10:57 AM
To: Verne, B. Michael
Subject: Re: HSR - Unproductive Real Property Exemption
Hi Michael:
I am sure youprobably do not remember, but you helped me with some HSR issues this time last year. I appreciated your help very much.
We now have a clientwho is purchasing 160,000 acres of timberland. We think the transaction isexempt from HSR filing requirements under theunproductive real property exemption (802.2(c)). However, the seller insiststhat my client execute a post-closing affidavit stating it is going to managethe timber in the same fashion as the seller did before closing, i.e. on astand level. Seller's counsel insists that such a statement is required under HSR. However, I cannot find the requirement. The only thing I canthink of is that it is somehow important to counting part of the timberland asunproductive.
Can you tell mewhether the purchaser is required by HSR to executethis sort of post closing affidavit, or if not required, that it lends supportto unproductivity? I am stumped.
(redacted)