not really. there has to be legit competition for the EU and DOJ to approve it. spinning off a small portion of the business won't constitute enough competition for antitrust purposes.
even better spread now!
deadline is 4/30 but can be extended beyond that date if BODs agree to move forward.
you're thinking of LINE, not LNCO. LNCO is a corporation and won't pass any forgiveness of debt income to the shareholders. LINE could unless they plan/restructure their current position as a flow through entity with unitholders.