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When I taught Business Entities to paralegals I also tried to emphasize the need to consider retirement plans in M&A transactions.

It's all appropriate (and my preference is to actually "merge" plans together, lest the money "leak" and not be available for retirement) BUT - these are issues that should have been discussed, decided and documented BEFORE THE ACQUISITION TOOK PLACE. Having been doing this for more decades than I care to count, I'm not naive enough to assume it will ever happen in the right order, but I can still put my two cents in. In the organization for which I am currently providing my services (a TPA/Consulting/Actuarial/Technology company) we are trying to educate clients that corporate transactions that may have plan impacts need to be handled earlier - and we are trying to gain their trust so that they will look to us for plan advice when such is contemplated. After the fact decisions can restrict options.

Since when do real world complications have any bearing on IRS or DOL positions?