Generally, a corporation that acquires any assets of another corporation needs to obtain shareholder approval for the purchase.

Question

Quizplus · Accepted Answer

Generally, the requirement for shareholder approval for the purchase of assets by a corporation depends on the size of the transaction relative to the size of the corporation. Many transactions do not require shareholder approval unless they are of such a size that they would significantly alter the nature or direction of the business, as specified in the corporation's bylaws or relevant corporate laws.

Generally, a Corporation That Acquires Any Assets of Another Corporation