Guest rocnrols2 Posted April 13, 2005 Posted April 13, 2005 Company X maintains a medical plan permitting dependent children to remain covered until age 19 or if the child is a full-time student in college until age 23. Company X buys the stock of Company L, a subsidiary of Company B. Company L's employees participate in Company B's medical plans which provides the children remain dependents until age 25. Upon the closing date, dependent children who are 34 or 25 lose their medical coverage under Company B's plan. Should Company B offer these dependents COBRA coverage or should Company X? The stock purchase agreement is silent on who is responsible for COBRA coverage.
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