16 October 2009 Internal T.I. 2009-0337721I7 F - Perte lors de fusion étrangère -- summary under Paragraph 40(3.5)(b)

Holdco, a CCPC, received shares of the foreign merged corporation in replacement of its shares of a public American company, and elected in an amended return for s. 87(8) to not apply. The Directorate noted that superficial and suspended loss rules in ss. 40(2)(g)(i) and 40(3.4) would not apply given that the replacement shares were not identical property.