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violation incidental to such agreement, it would be unreasonable to conclude that a violation of the Act which has been corrected would preclude approval of future agreements not affected by such violation.

As heretofore stated, the Board found in the Eastern-Colonial Acquisition Case, supra, that Eastern's control of Colonial had terminated. In the negotiations leading to the execution of the instant agreement Colonial submitted to National all communications of which it sent to Eastern, including invitations to bid, notices of postponement of due date of bids, etc. The record discloses negotiations between Eastern and Colonial only at arms' length.  Accordingly, it is concluded that the agreement has been reached without any action which is contrary to the provisions of the Act.

Consideration - The Eastern-Colonial agreement provides, in effect, that Eastern shall pay to Colonial for the latter's assets one share of Eastern's stock for each two shares of outstanding Colonial stock. Colonial's outstanding stock as of the time of the agreement, including that issued to T. J. Dunnion under his option which he exercized February 28, 1955, totals 520,600 shares. Accordingly, under the agreement Eastern will issue to Colonial 260,300 shares of Eastern's stock.