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Guest PWBAer

Corporate merger and employer stock

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Guest PWBAer

Company A exchanges shares of its common stock with Company B. Company B has a defined benefit pension plan which holds Company B stock. Company B pension plan holds Company B stock in excess of 10% of total plan assets for Company B Pension Plan. However, the excess is result of stock appreciation and actual purchases of Company B stock by Company B Pension Plan never exceeded 10% limit. Does the exchange of Company A shares for Company B shares represent an acquisition or exchange which results in the Company B Pension Plan owning in excess of 10% of its assets in employer stock?

[This message has been edited by PWBAer (edited 11-12-98).]

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