The Blue Marlin is owned by a group of 5 shareholders who all vote independently and who all want personal control over the firm.What is the minimum percentage of the outstanding shares one of these shareholders must own if he or she is to gain personal control over this firm given that the firm uses straight voting?
A)17 percent
B)20 percent plus one vote
C)25 percent plus one vote
D)50 percent plus one vote
E)51 percent

Question

Quizplus · Accepted Answer

In a straight voting system, to have personal control over the firm, a shareholder must own more than half of the outstanding shares. Therefore, owning 50 percent plus one vote is the minimum requirement to ensure control.

The Blue Marlin Is Owned by a Group of 5