Exam 36: Corporate Acquisitions, takeovers, Termination

In a consolidation,two or more corporations combine so that each corporation continues to exist.

Firelite Corporation wants to purchase all of the assets of Glo Power Products,Inc.Hadji is an Firelite shareholder.The approval of Hadji and other Firelite shareholders is necessary

When a corporation is dissolved voluntarily,the corporation must file articles of dissolution with the state.

After a consolidation,the new corporation inherits all of the consolidating corporations' rights.

Generally,a corporation that purchases the assets of another corporation is automatically responsible for the liabilities of the selling corporation.

Salt Corporation wants to acquire or merge with Pepper Corporation.The board and the shareholders of Pepper are resisting.Salt should

Like other corporations,Beauty Supplies Corporation can extend its operations through

Penn files a suit against Roadway Sign Company While the suit is pending,Roadway consolidates with Synchronized Signal Corporation to form Traffic Management,Inc.Now,liability in the suit,if any,rests with

Through a certain transaction,Corporate Properties,Inc.,acquires all of the shares of Downtown Realty Corporation for some of Corporate Properties's shares.Both Corporate Properties and Downtown Realty continue to exist.This is

Motor Parts Corporation offers to buy the stock of NASCAR Products Corporation (NPC).NPC's directors oppose the offer.Orin and other NPC shareholders file a suit,alleging a breach of the directors' fiduciary duties.Most likely,the court will

Giant Lift Corporation purchases all of the assets of Heavy Hydraulics Corporation.With respect to Heavy Hydraulics's liabilities,Giant Lift is

Eagle Financial Corporation merges with First Bank Corporation,with Eagle Financial absorbing First Bank.After the merger

Federal securities laws strictly control the terms,duration,and circumstances under which most tender offers are made.

A merger between Grain Mills Corporation and Farm2Fork Distribution Inc.can be expressed as Grain Mills + Farm2Fork =

When dissolution takes place by voluntary action,the shareholders are responsible for winding up the affairs of the corporation.

A merger involves the legal combination of two or more corporations,only one of which continues to exist.

A sale of all of a corporation's assets requires the approval of the state.

A target corporation's attempted takeover of an acquiring corporation is referred to as the Pac-Man defense.

Realty Credit Company and Security Mortgage Corporation plan to consolidate.Most likely,the articles of consolidation will be filed with

Vision Optical Company and Wide Eyes Open,Inc.decide to combine.Xavier,a Wide Eyes shareholder,is dissatisfied with the price that he will receive for his stock.In the absence of fraud or other illegal conduct,Xavier's exclusive remedy is to