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A corporation has 2 0 , 0 0 0 shares outstanding. A shareholders' meeting is duly called to approve a merger, and 1 2 ,
A corporation has shares outstanding. A shareholders' meeting is duly called to approve a merger, and shares are represented at the meeting. The articles of incorporation require a quorum. To approve a merger, a vote of of the shares voting is required. If shares are voted in favor of the amendment, does it pass?
A Yes, both the quorum and vote were met.
B No the quorum would require shares to be represented to comprise the needed supermajority.
C Yes, the quorum was met, and the majority voted in favor of the amendment.
D No the vote did not meet the required threshold of
E No even though the quorum was met, the vote did not meet the required threshold of votes.
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