Gallic shareholders are given three tax options on triangular amalgamation with Petromanas

Although a picayune deal, the shareholders of Gallic will have a relative wealth of choices respecting its proposed triangular amalgamation with an acquisition subsidiary of Petromanas: an s. 85.1 exchange (permitting loss recognition); a s. 85 rollover (any elected amount between cost amount and fair market value); or a s. 87(9)(a) rollover (automatic rollover at adjusted cost base if capital property).

Neal Armstrong.  Summary of Gallic circular under Mergers & Acquisitions - Triangular amalgamations.