DeMOSS, Circuit Judge:
This appeal requires that we determine what effect, if any, a retiree benefits-related provision included in an asset purchase agreement had on the acquiring company's retiree benefits plans governed by ERISA. For the following reasons we find that the provision constituted a valid plan amendment. Moreover, we find that the provision was assumed, not rejected, in bankruptcy. Reversed and remanded.
I. FACTUAL BACKGROUND
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