Ellington Financial (EFC) eases the tax burden on its partners, forming a new subsidiary to...


Ellington Financial (EFC) eases the tax burden on its partners, forming a new subsidiary to receive the entirety of the company's assets and through which all operations will be conducted. The move significantly restricts the liquidity of management's stake, but keeps owners of the common stock from a nasty tax bill due to increases in book value. Shares +2.1% today ahead of the filing, up another 0.7% AH.
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