Ontario Barrister and Solicitor Practice Exam

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What must OBCA corporations do to complete an approved amalgamation?

  1. Hold a public auction of company assets.

  2. Obtain a loan to finance the amalgamation.

  3. Approve the amalgamation agreement by both BOD's and submit it to the shareholders.

  4. Sell shares to the public to raise funds.

The correct answer is: Approve the amalgamation agreement by both BOD's and submit it to the shareholders.

OBCA corporations must approve the amalgamation agreement by both BOD's and submit it to the shareholders in order to complete an approved amalgamation. The other options, such as holding a public auction or obtaining a loan, are not necessary steps for completing an amalgamation. Additionally, selling shares to the public may not be an effective way to raise funds for an amalgamation as it could result in a loss of control over the company. Therefore, the correct answer is C.

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