Abacus, Inc. forms a corporation, Serious, Inc., by transferring 18 percent of Abacus, Inc.s stock...
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Abacus, Inc. forms a corporation, Serious, Inc., by transferring 18 percent of Abacus, Inc.s stock to Serious, Inc. for 100 percent of the stock in Sirius, Inc. Sirius, Inc. acquires 90 percent of the stock of Tyrol, Inc. for its stock in Abacus, Inc. whereupon Serious, Inc. is merged into Tyrol, Inc., with Tyrol, Inc. surviving. Assuming this qualifies meets all of the requirements for one of the following, these transactions may best be described as
a. a Section 351 transfer, followed by a Type B reorganization.
b. a spin-off.
c. the purchase of a subsidiary corporation.
d. a reverse triangular merger.
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