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Wirco Inc. purchases 1 0 0 % of Seminole Corporation for $ 1 0 million. Following the purchase, Seminole ceases to exist as a separate

Wirco Inc. purchases

100 %

of Seminole Corporation for $

10

million. Following the purchase, Seminole ceases to exist as a separate legal entity and is absorbed into Wilco Inc. This is an example of a statutory merger.

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