Federal Income Tax II Business Income Tax ACCT Accounting

What do you know about mega-mergers and mega-bankruptcy, and what are the factors contributing to both? What are the tax implications for the companies/corporations? Are there tax issues for the employees?

Using Checkpoint, the IRS website, or an Enrolled Agent organization's site to find a news article that talks about the topic or (better yet) provides an example situation from a tax court case or settlement where this caused the problem.