The majority shareholders incorporate a second corporation, which initiates a merger with the original corporation. The shareholders using this technique are then in a position to dictate the plan of merger. They force the minority stockholders in the original corporation to accept a cash payment for their shares, effectively "freezing them out" of the resulting company.
Expect ACA Joe board to seek investigation. (ACA Joe's board of directors expected to request investigation of alleged improper business practices)
Nov 21, 1991; NEW YORK -- ACA Joe's board of directors is expected to request an investigation concerning the various allegations made by...