Which one of the following statements concerning a reverse triangular merger is false?

Question

Quizplus · Accepted Answer

In a reverse triangular merger, the subsidiary corporation is merged into the target corporation, and the parent corporation must obtain at least 80 percent of voting and at least 80 percent of nonvoting stock of the target corporation. However, the voting stock of the parent corporation is not given to shareholders of the target corporation in return for all of target's assets. Rather, the target corporation's shareholders receive shares of the parent corporation in exchange for their shares in the target corporation.

Which One of the Following Statements Concerning a Reverse Triangular