Merging Multiply Layer

[zaskaggs]

I want to merge the top three layers here such that the transparent area in the third image is still transparent. I have the first two layers set to multiply, but when I merge them the white areas become visible (the bottom image).

Is there any way I can make this work?

[iDad]

select the outside area on the transparent one then select the other layers delete the outer surroundings.... real easy
if you need help PM me