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ALL ANSWERS MUST BE SUPPORTED WITH LEGAL JUSTIFICATION QUESTION 1 (25 marks) In April 2012, Meta Inc (formerly known as Facebook) acquired Instagram at
ALL ANSWERS MUST BE SUPPORTED WITH LEGAL JUSTIFICATION QUESTION 1 (25 marks) In April 2012, Meta Inc (formerly known as Facebook) acquired Instagram at the cost of US$1.0 billion. Today this has proven to be a significant acquisition: Instagram currently boasts more than 1 billion users and share prices for both companies are performing well on NASDAQ. Even though Instagram is owned by Meta Inc, there was a conscious decision to separate the management of Instagram from Meta's. As of October 2021, Meta's founder Mark Zuckerberg holds 16.7% of shares (in Meta) and he is currently Meta's largest shareholder. Assuming that the above events took place in Malaysia, use the Companies Act 2016 to describe: (a) the relationship between Meta Inc. and Instagram (b) the significance of Mark Zuckerberg being the largest shareholder of Meta (10 marks) (15 marks)
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