A merger or consolidation plan must be approved only by the boards of directors of the most prominent of the merging or consolidating company.

Name: A merger or consolidation plan must be approved only by the boards of directors of the most prominent of the merging or consolidating company.
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Question

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A merger or consolidation plan must be approved by the boards of directors of all companies involved, not just the most prominent one, and typically also requires approval from the shareholders.

A Merger or Consolidation Plan Must Be Approved Only by the Boards