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Shark Ltd. has agreed to acquire Salmon Ltd. using a scheme of arrangement. Salmon Ltd. held an extraordinary general meeting to vote on the proposal
Shark Ltd. has agreed to acquire Salmon Ltd. using a scheme of arrangement. Salmon Ltd. held an extraordinary general meeting to vote on the proposal and the meeting was attended by 521 of its shareholders who collectively owned 38 million shares. The proposal was approved by 280 of the attending shareholders who owned 29.1 million shares in the company. As a result, Shark Ltd. can automatically gain full control of Salmon Ltd. True/False
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