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On motion of the Amici Curiae, the court directed that a ruling be obtained from the Commissioner of Internal Revenue as to the federal income tax consequences of the Government's plan.

On May 9, 1958, the Commissioner announced his rulings.

The annual dividends paid to Du Pont stockholders in shares of General Motors stock would be taxable as ordinary income to the extent of Du Pont's earnings and profits.

The measure, for federal income tax purposes, of the dividend to individual stockholders would be the fair market value of the shares at the time of each annual distribution.

In the case of taxpaying corporate stockholders, the measure would be the lesser of the fair market value of the shares or Du Pont's tax basis for them, which is approximately $2.09 per share.

The forced sale of the General Motors stock owned by or allocable to Christiana, Delaware, and the stockholders of Delaware, and deposited with the trustee, would result in a tax to those parties at the capital gains rate.