in a taxable acquisition, P corporation, using its own stock and cash, purchases S corporation. The shareholders of S own, immediately after purchase, 60% of the P Stock. Which of the following is a true statement?

A. nontaxable merger, in substance, has taken place

B. Because a taxable acquisition occurs, no reverse acquisition has taken place

C. Because of the purchase, P and S are required to file consolidated tax returns.

D. This Transaction meets the criteria of a reverse acquisition.