statutory merger

Definition of "statutory merger"
  1. A type of consolidation of two companies which must follow particular laws requiring precise steps to inform and get consent from shareholders
How to use "statutory merger" in a sentence
  1. Their business deal involved a statutory merger, making it necessary to follow specific procedures including getting approval from all shareholders.
  2. The statutory merger was halted because they did not properly notify the shareholders as required by law.
  3. The companies went through a statutory merger process, ensuring all prerequisite steps, including shareholders' approval, were met.

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