James Clark McReynolds

“ Mere acquisition by one corporation of a majority of the stock or all the assets of another corporation does not of itself constitute a reorganization, where such acquisition takes the form of a purchase and sale and does not result in or bear some material resemblance to a merger or consolidation.'
True, the mere acquisition of the assets of one corporation by another does not amount to reorganization within the statutory definition. ”

“ Section 203, Revenue Act, 1926, c. 27, 44 Stat. 9, 11 (26 U.S.C.A. § 112 note) , is relied upon. The pertinent parts are in the margin of the opinion in Helvering v. Minnesota Tea Co., 296 U.S. 378, 56 S.Ct. ”