Java Corporation wants to purchase all of the assets of Kaffee Corporation. Loni is a Kaffee shareholder. The approval of Loni and other Kaffee shareholders is necessary
A) in all circumstances.
B) in no circumstances.
C) only if Kaffee will be paid with unauthorized, unissued stock.
D) only if Java assumes Kaffee's liabilities as part of the deal.

Question

Quizplus · Accepted Answer

The approval of the shareholders of the corporation being acquired is necessary in all circumstances, regardless of the terms of the deal or the specific details of the transaction. Shareholders have a right to consent to any transfer of ownership or control of the corporation they own a part of.

Java Corporation Wants to Purchase All of the Assets of Kaffee