stock. In the opinion of National General and considering its own experience, this is not considered to be an unusually large percentage. The tender offer for Columbia Savings and Loan, for example, in 1964, resulted in about 95-percent acceptance with some 5 percent of the stock outstanding, of which 2 percent still remains outstanding. Percentages in the neighborhood of 4 or 5 percent usually include cases of estates in the process of being closed, lost stock certificates, and owners, for one reason or another, unable to immediately respond. In some cases, owners are out of the country or have moved without providing forwarding addresses, etc. As a matter of fact, National General continues to receive submittals of Holding Corporation stock for exchange under the merger terms, i.e., three and one-half $40.00 warrants for each share. If you have any further questions or desire any further information, please do not hesitate to call me. The enclosed letter from National General Corporation, d October 8, will supply the information you requested in phone conversation of October 6 relative to the summons and tion on the Delaware Chancery action and the $43.08 offer. Hare & Company is nominee for the Bank of New York, 40 Street, New York City. The extent to which Hare holds es in its own name, as distinguished from nominee, is not nor are we in a position to advise as to the identity of ies, if any, for whom the Bank of New York may be acting. Please advise if I can be of further assistance. n, Sincerely yours, WYMAN, BAUTZER, FINELL, ROTHMAN & KUCHEL Estivants Edward Weinberg De in $58 th osure BRI Enc Reference is made to our telephone conversation wherein you requested additional information relating to the above. With regard thereto : IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE HARE & CO., a partnership GROVER C. JENSEN and CHARLES CIVIL ACTION NO. 3089 SUMMONS SUMMONS NATIONAL GENERAL CORPORATION, a Delaware corporation Plaintif Defendant THE STATE OF DELAWARE, TO THE SHERIFF OF New Castle COUNTY: YOU ARE COMMANDED: so that, within 20 days after service shall serve upon To Summon the above named defendant plaintiff's attorney S. Samuel Arsht, Esquire To serve upon defendant a copy hereof and of the complaint. Dated July 10, 1969 Basil & Batting his Register in Chancery TO THE ABOVE NAMED DEFENDANT : - In case of your failure, within 20 days after service hereof upon you, exclusive of the day of service, to serve on plaintiff's attorney named above an answer to the complaint, judgment by default will be rendered against you for the relief demanded in the complaint. Basel R Battaglia Register in Chancery IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE Hare & Co., by its attorneys, Morris, Nichols, Arsht & Tunnell, for its petition pursuant to Sections 253 and 262 of the General Corporation Law of Delaware, avers as follows: 1. Hare & Co. is a partnership whose partners are Eben 0. McNair, James L. Neff, Robert N. Kay, Matthew E. Gately, III, Grover C. Jensen and Charles G. Denzau. At all times relevant heretc, Hare & Co. has been the holder of record of 20,000 shares of the common stock of Great American Holding Corporation ("Great American"), a Delaware corporation." 2. National General Corporation ("National General"), a Delaware corporation, is the surviving corporation of the merger on February 25, 1969, of Great American into National General under Section 253 of the General Corporation Law of Delaware. 3. By letter dated March 5, 1969, National General notified the shareholders of Great American, including Hare & Co., that the merger of Great American into National General |