Which of the following is true of a compulsory share exchange?

It is a transaction by which the corporation becomes the owner of all the outstanding shares of one or more classes of another corporation by an exchange that is required of all owners of the acquired shares. It may be carried out by a corporation acquiring shares in another corporation with its or any other corporation's shares or other securities, but not for cash or other property. It affects the separate existence of the corporate parties to the transaction. It affects the separate existence of the corporate parties to the transaction