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Explain how a business combination could occur with no transfer of consideration. Using the two scenarios below, explain how PCo could gain control of SCo with no transfer of consideration.
Scenario 1: SCo currently has 1,000,000 common shares outstanding, and PCo owns 300,000.
Scenario 2: SCo currently has 1,000,000 common shares outstanding. Although PCo owns 510,000 of these shares, PCo is unable to exert control due to regulatory restrictions.
Rival in Consumption
A property of a good whereby one person's consumption of the good reduces the ability of another person to consume it.
Excludable
A characteristic of a good or service that allows owners or providers to prevent others from using it without paying.
Concert Hall
A venue specifically designed and equipped for the performance of live music, often with attention to acoustical properties to enhance sound quality.
Artificially Scarce Goods
Goods that are made scarce by the actions of individuals or institutions, despite the capability of being easily produced in abundance.
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