1234567 Inc. is contemplating a Business Combination with 7654321 Inc. One company is incorporated under Federal law, the other under provincial law. Is a statutory amalgamation permissible under these circumstances?
A) Yes, provided the combination is accounted for using the Acquisition Method.
B) Yes, provided the surviving corporation would have had control of the purchased company.
C) No, a statutory amalgamation would not be possible, since one company is incorporated under federal law and the other under provincial law.
D) Cannot be determined from the information given.

Question

Quizplus · Accepted Answer

Statutory amalgamation typically requires that both companies are governed under the same jurisdiction, either both under federal law or both under provincial law. Since one company is incorporated under federal law and the other under provincial law, a statutory amalgamation would not be possible.