Yes you can sammy. This is why they are allowed. This is taken from the tax code:
This is based on the Merger that qualifies as a tax-free reorganization under Section 368 of the Internal Revenue Code of 1986, as amended, meaning that as the Reorganized Holdings Corporation begins to trade it has an option to adjust the market (trading price) to reflect the new Reorganized Holdings Corporations audited financials as it reflects on the per share book value
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.