The possibilities included an outright acquisition by Aon, the proxy says.

An outright acquisition, with the county and town sharing the cost, is just one possibility, he said.

Analysts said that short of an outright acquisition by one of the partners, the agreement was a good strategic fit.

Some executives argue that outright acquisitions are better than trying to operate nationally through loose alliances and networks.

"We have been favoring outright acquisition of land and sterilizing the property."

The deal's tax-free status derives from the fact that it is structured as a spinoff rather than an outright acquisition.

One is outright acquisition, for which the county and state have spent about $100 million.

The Jacorossis' energy empire grew through outright acquisitions, too.

Many different strategies are used to provide this protection, including outright acquisition of the land by the trust.

A strategic alliance may take the form of an outright acquisition, minority stake, joint venture or brand franchise.