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ACME Real Estate Company is a real estate management company located in the Midwest. The company is looking to branch out into the South and the...
ACME Real Estate Company is a real estate management company located in the Midwest. The company is looking to branch out into the South and the Western United States. The company manages both residential and commercial real properties. It has begun negotiations to acquire Big Properties Inc., which owns 50 properties in the southern part of the United States. Jim Galore is the majority owner of Big Properties Inc.; minority shareholders include three high-profile celebrities.
The minority shareholders of Big Properties Inc. want nothing to do with ACME Real Estate Company because of certain indiscretions on prior tax returns to which they do not want to draw attention. Therefore, the minority shareholders want to be bought out for cash, not with ACME Real Estate Company stock.
Briefly discuss what form of reorganization you would choose to get these companies together.