In a ________, both firms cease to exist, and a new corporation is established with a new name, a new board, and/or a new management team.

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In a consolidation, both companies involved cease to exist as separate entities and come together to form a completely new corporation, often with a new name, board, and management team. This distinguishes it from a merger, where one company absorbs another but continues to exist; an acquisition, where one company purchases another; and a buyout, which refers to the purchase of a company's majority stake but doesn't inherently imply the creation of a new entity.

In a ________, Both Firms Cease to Exist, and a New