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LO2 1. Distinguish between internal and external expansion of a firm. LO2 2. List four advantages of a business combination as com- pared to internal

LO2 1. Distinguish between internal and external expansion of a firm.

LO2 2. List four advantages of a business combination as com- pared to internal expansion.

LO1 3. What is the primary legal constraint on business combi- nations? Why does such a constraint exist?

Distinguish among a statutory merger, a statutory consol- idation, and a stock acquisition.

Define a tender offer and describe its use.

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