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 places a higher bid than Gatsby Retail but eventually backs out of the merger. In the end, a Boston-based multinational company (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 places a higher bid than Gatsby Retail but eventually backs out of the merger. In the end, a Boston-based multinational company (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?