Ola holds 75 percent of the shares of Henrik Shipping Co.Anatoly holds 25 percent.The board has called a shareholders' meeting to consider a proposal to amalgamate Henrik with Norwegian Shipping Inc.Ola is in favour of the transaction.Anatoly is opposed.Which of the following best describes Anatoly's legal position?
A) As a minority shareholder, he has no way to block the transaction or obtain any relief.
B) The majority shareholder cannot vote in favour of the transaction without taking Anatoly's interests into account.
C) Because he holds 25 percent of the shares, he can block the transaction by voting against it.
D) The only thing Anatoly can do is try to convince Ola to change his mind.
E) Anatoly is entitled to vote against the transaction and, if it is approved, to dissent and require the corporation to buy his shares for fair value.
Correct Answer:
Verified
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