a. not affected at all regardless of whether the transaction is an upstream or downstream one. (3) A business combination is defined as: a. a transaction in which an acquirer obtains control of an acquiree. b. a transaction in which one entity obtains control of one or more other entities. c. a transaction or other event in which an acquirer obtains control of one or more businesses. d. a transaction or other event in which an entity obtains control of one or more businesses