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? _ _ _ i t i s i m p o s s i b l e f o r a t a x
? _ _ _ i m p o s s i b l e f o r a t a x - f r e e a c q u i s i t i o n t a k e p l a c e . Q u e s t i o n 1 4 S e l e c t o n e : a. Ifa c q u i s i t i o n b e i n g u n d e r t a k e n w i t h t h e e x p r e s s p u r p o s e a v o i d i n g t a x e s b. Ift h e f i r m e x c h a n g e s i t s o w n s t o c k f o r t h e s e l l i n g f i r m ' s e q u i t y c. Ifa c q u i s i t i o n f o r p u r p o s e s d. Ift h e s t o c k h o l d e r s t h e t a r g e t f i r m w i l l r e t a i n e q u i t y i n t e r e s t t h e b i d d e r e. Ift h e s e l l i n g s h a r e h o l d e r s w i l l c o n s i d e r e d h a v e e x c h a n g e d t h e i r o l d s h a r e s f o r n e w o n e s e q u a l v a l u e
a.
Ifa c q u i s i t i o n b e i n g u n d e r t a k e n w i t h t h e e x p r e s s p u r p o s e a v o i d i n g t a x e s
b.
Ift h e f i r m e x c h a n g e s i t s o w n s t o c k f o r t h e s e l l i n g f i r m ' s e q u i t y
c.
Ifa c q u i s i t i o n f o r p u r p o s e s
d.
Ift h e s t o c k h o l d e r s t h e t a r g e t f i r m w i l l r e t a i n e q u i t y i n t e r e s t t h e b i d d e r
e.
Ift h e s e l l i n g s h a r e h o l d e r s w i l l c o n s i d e r e d h a v e e x c h a n g e d t h e i r o l d s h a r e s f o r n e w o n e s e q u a l v a l u e
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