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To: Robohogs who wrote (51409)8/3/1998 1:00:00 PM
From: Christopher Reed  Read Replies (1) | Respond to of 61433
 
It's an IRS agreement not SEC.

When ATT spun off LU it was a non taxable transaction. To keep it non taxable, LU can not use its assets (ATT's assets) to join forces (merge) with anyone for two years. If it does then capital gains must be paid on the t/lu spinoff. I am not sure who would pay these taxes, Att or LU shareholders. Either one would be a BIG cost.

Get your facts straight.

Cheers..
Chris.


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