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[[Consolidation]] is the action of combining two or more companies into a single new comnpany. Unlike a [[merger]], in a [[consolidation]], ''none'' of the originally joining companies survives: in the consolidation process a brand new company is incorporated and all the assets and [[Liability|liabilities]] of all of the joining companies are transferred to the new entity. At some profound metaphysical level — a place that appeals at a deep, subconsious level, to [[legal eagle]]s though they don’t understand it and cannot rationalise it, but it manifests itself in them having to ''describe'' it, bloody-mindedly — these things are profoundly different. But from a practical point of view — meaning we are excluding tax considerations, needless to say — they are exactly the same. | [[Consolidation]] is the action of combining two or more companies into a single new comnpany. Unlike a [[merger]], in a [[consolidation]], ''none'' of the originally joining companies survives: in the consolidation process a brand new company is incorporated and all the assets and [[Liability|liabilities]] of all of the joining companies are transferred to the new entity. At some profound metaphysical level — a place that appeals at a deep, subconsious level, to [[legal eagle]]s though they don’t understand it and cannot rationalise it, but it manifests itself in them having to ''describe'' it, bloody-mindedly — these things are profoundly different. But from a practical point of view — meaning we are excluding tax considerations, needless to say — they are exactly the same. <br> | ||
Revision as of 10:06, 23 June 2020
Consolidation is the action of combining two or more companies into a single new comnpany. Unlike a merger, in a consolidation, none of the originally joining companies survives: in the consolidation process a brand new company is incorporated and all the assets and liabilities of all of the joining companies are transferred to the new entity. At some profound metaphysical level — a place that appeals at a deep, subconsious level, to legal eagles though they don’t understand it and cannot rationalise it, but it manifests itself in them having to describe it, bloody-mindedly — these things are profoundly different. But from a practical point of view — meaning we are excluding tax considerations, needless to say — they are exactly the same.