"...Wouldn't it make sense to buyout CUU prior to the end of the year? Rack up some 'expenses' so that their tax bill would be lighter..."

The acquisition of CUU, whether by cash or by share exchange, is a capital transaction and is not considered an expense. Apart from some minor incidental expenses related to the acquisition such as legal expenses etc., the buyout of CUU would not reduce TCK's tax bill. So for TCK, it matters not whether they buy it in 2012 or 2013. JMO