T merges into P solely in exchange for P voting Stock (and the debt assumptions). B, however, dissents under state law procedure for objecting shareholders. B's T stock is purchased by T under an agreement whereby B agrees to take the $300 non operating assets, and whereby the stock given by P is reduced to $700. [State the results generally, but do the numbers for B only.]

A also dissents and likewise is bought out for $500 worth of the operating assets. P gives T only $200 in value of P stock. Will be concerned about this result (aside from the loss of T's assets)? What would you advise P to do to protect itself?

T merges into P solely in exchange for P voting stock. Within six months of the merger, A, B, and C sell all of their P stock in a disposition they had planned at the time of the merger. What if, at the time of the merger, A, B and C planned to keep the P stock.

S, a subsidiary of P, merges into T, exchanging solely cash for T's outstanding stock. New T stock is issued to P for its S stock.