2. 5 years later Jim has done very well but he is facing competition from 4 other similar businesses, he is considering the idea of merging with one of his competitors or trying to acquire one of them.

a. Explain to Jim what a merger is. Then identify and explain the steps that he and the other party would need to take to merge together - remember this will vary country to country.

b. Jim was able to convince Bob to merge their companies together, explain to Jim what three separate groups of professionals are recommended to be consulted to assist him with this merger.

c. Explain to Jim and Bob what issues they will need to agree to when the two comes merge into one new company. For example, who will be the Director, etc...