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In a Type B reorganization, the acquiring corporation obtains control by exchanging common and preferred stock in the same percentages as the targets outstanding common
In a Type B reorganization, the acquiring corporation obtains control by exchanging common and preferred stock in the same percentages as the targets outstanding common and preferred stock.
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The Type B reorganization requires a continuity of business interest. Therefore, the acquiring corporation must obtain at least 40% of target corporations stock through the reorganization.
True
False
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