Any pointers on how to treat the outcome of a merger?
I owned (long term) shares of GSF, which merged with Transocean (RIG),
resulting in shares of RIG plus some cash.
Can anyone offer pointers on how to treat the transaction from a tax
standpoint? How do I determine:
1) How much of the cash is capital gain?
2) What's my basis in the new stock?
(I really ought to have stayed on top of this, selling off the stock
before the transaction took place!)
- posted 12 years ago