Karlovsky and Sons Inc., a retail corporation reports financial losses for three years in a row.Two larger corporations, Gatsby Retail Inc.and Chelsea Sales Corp compete to acquire Karlovsky and Sons.Initially, Chelsea Corp.places a higher bid than Gatsby Retail Inc.but eventually backs out of the merger.In the end, a Boston-based MNC named J.Y.Corp.acquires Karlovsky and Sons and permits the latter to expand as a wholesaler.Which of the following is the surviving corporation in this scenario?

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The Answer of Karlovsky and Sons Inc., a retail corporation reports financial losses for three years in a row.Two larger corporations, Gatsby Retail Inc.and Chelsea Sales Corp compete to acquire Karlovsky and Sons.Initially, Chelsea Corp.places a higher bid than Gatsby Retail Inc.but eventually backs out of the merger.In the end, a Boston-based MNC named J.Y.Corp.acquires Karlovsky and Sons and permits the latter to expand as a wholesaler.Which of the following is the surviving corporation in this scenario?