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: a transfer of corporate assets to a subsidiary involving the surrender of a part of the stock owned by the corporation's shareholders in exchange for controlling stock of the subsidiary
: a D reorganization involving a distribution of part but not all of a corporation's stock for a subsidiary's stock
: a new company created by such a distribution compare spin-off, split-up
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.