Question

15. mactech corporation is a subsidiary of clickon corporation, which owns 90 percent of mactech's shares. the management of clickon is not happy with the way mactech is being managed. they believe that mactech is losing out on a huge chunk of potential business to rivals due to mismanagement. as a solution, the board of directors of clickon approves a merger between clickon and mactech and they send a copy of the merger plan to mactech's shareholders. this form of merger is called a(n):

Answer 1

This form of merger which is stated in the above question or scenario is known as a short-form merger.

What is meant by a short-form merger?

In circumstances where the acquiring firm does not want (or needs) the consent of the shareholders, a short-form merger is frequently used. For most types of significant corporate transactions, shareholder approval is typically required.

Does the board need to approve a short form merger?

The board of the subsidiary must accept the "entire resolution" or merger plan, as well as the consideration to be paid for each share that the parent business does not possess, if it owns less than all of the outstanding shares.

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