A Company May Purchase Some of the Assets of Another

Multiple Choice

A company may purchase some of the assets of another corporation. Which of the following are true?

A) Shareholders must vote on any acquisition of more than 33% of corporate assets by another corporation.
B) Shareholders must vote on any acquisition of more than 66% of corporate assets by another corporation.
C) The acquiring company can choose which assets it wishes to purchase, subject to no statutory restrictions, but can only purchase assets the other company wishes to sell.
D) b and c
E) After selling more than 50% of its assets, the selling company ceases to exist legally.