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by sandman008
1586 days ago
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Matt Levine has already discussed Texas Divisive Mergers w.r.t. J&J case: https://www.bloomberg.com/news/newsletters/2021-07-20/money-... "It does seem … wrong? Like, obviously, if you run a big company that has big liabilities, you’d like to be able to just get rid of the liabilities. And obviously companies have tried, and there are simple approaches (spin off the assets and leave the liabilities, etc.), and those simple approaches don’t work because generally it is bad for a company to be able to just get rid of its liabilities. It would be weird if there was a cheat where doing it as a Texas two-step merger did work." |
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