Salmon Company decides to combine its operations with Tuna Corporation to form United Seafood Inc. Salmon and Tuna are domestic corporations. The plan for Salmon and Tuna's combination must be approved by the shareholders of
A)each corporation.
B)Salmon only.
C)Tuna only.
D)neither corporation.

Question

Quizplus · Accepted Answer

The plan for combining operations, especially in a significant manner such as forming a new entity, typically requires approval from the shareholders of each corporation involved in the merger or consolidation. This ensures that the interests of the shareholders are considered and approved before such a significant corporate action is taken.

Salmon Company Decides to Combine Its Operations with Tuna Corporation