One of my hobbies is researching shipping companies history, it is amazing what you find.
Two companies, fierce rivals share contract, the contract is causing both comes to try and better the other.
The contract forbids amalgamating or merging.
A new contract is issued for tender, both companies are reluctant to bid, but contract clause forbidding merger is removed.
Company "A" is seen as the poorer relation in terms of ships.
Company "B" is the more progressive.
Company "A" enters negotiations with Company "B" with a view to amalgamating.
Terms are agreed with each owning 50% of a new company that will launched.
Agreements were made that both companies would liquidated.
Two months after the meeting to agree terms of the Amalgamation, Company "A" restyles itself as the new company keeping its original registration and merging the old companies name into the new name.
Company "A" has never posted the compulsory Gazette Notices informing its creditors of its intention.
Company "B" posts the necessary notices and seven years later is finally wound up.
Question, was it takeover that took place or an amalgamation?
The scenario is factual.
I have my own views, it would be interesting to hear your views
Vic