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A Reverse Morris Trust is used when a parent company has a subsidiary (sub-company) that it wants to sell in a tax-efficient manner. The parent company completes a spin-off of a subsidiary to the parent company's shareholders. Under Internal Revenue Code section 355, this could be tax-free if certain criteria are met. The former subsidiary (now ...
The company was formed by Verizon in 2009 to facilitate the planned sale of some local subsidiaries to Frontier, which was completed on July 1, 2010. The company was set up to allow for a Reverse Morris Trust merger, allowing Verizon to spin off the company to Frontier tax-free. Its primary purpose was to transfer Frontier ILEC Holdings as well ...
On November 16, 2020, Upjohn merged with Mylan in a Reverse Morris Trust transaction and changed its name to Viatris. [1] [2] At that time, Michael Goettler became chief executive officer. [6] [3] Following the combination, the company began trading on the NASDAQ using the ticker symbol VTRS. [2]
That’s a key benchmark for Reverse Morris Trust tax reasons. It means that Warner Bros. Discovery can do another significant deal two years after the close of the previous merger.
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Morris Cafritz (c. 1888 - June 13, 1964) was a Washington, D.C. real estate developer, and philanthropist. As CEO of the Cafritz Company, he was Washington, D.C.'s largest private developer from the late 1920's to the early 1960's.
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Its critical and commercial success prompted Morris to leave teaching and work full-time as an independent writer. In 2010, Morris published Pulitzer: A Life in Politics, Print, and Power . [ 4 ] The Wall Street Journal deemed was one of the five best books on American moguls and one of the five best books on American newspaper publishers [ 5 ...