Unformatted text preview: summary of the merger plan. Explanation Choice &quot;d&quot; is correct. Both corporations must give shareholders notice and a summary of the merger plan. Choice &quot;a&quot; is incorrect. A merger plan need only be approved by a majority of the shareholders, not by all shareholders. Choice &quot;b&quot; is incorrect. The merger plan needs to be approved only by a majority of each board of directors of the corporations. Choice &quot;c&quot; is incorrect. The absorbed corporation ceases to exist; its articles need not be amended....
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- Spring '10
- Corporation, Types of business entity, Educational Development Corp, merger plan, James Chang, DeVry Educational Products