The tax consequences to the target corporation shareholders in a stock purchase include:

the starehotders will report gain or loss on the liquidating diutribution under Section $301$

if the target is liquilated, the shareholders receive a dividend on the liguidating distribution

the liguidation of a controlled subsidiary is a taxable event

shareholders will report gain or loss from the sale of Target shares to Purchaning Corporation under Section $61($a$)(3)$ and $1001$

none of the above