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Biotech / Medical : Immunex
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To: aknahow who wrote (643)12/19/2001 10:07:28 AM
From: RCMac  Read Replies (2) of 656
 
George,
The AMGN stock you receive for your IMNX stock is tax-free, the $4.50 cash is not (the cash is treated as a sale, therefore taxed as short-term or long-term capital gain).
The tax rule is that a stock-for-stock merger can be done tax-free, and that rule applies to the stock portion even if some cash is part of the purchase price (I believe, up to 20% cash).
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