statutory consolidation

Definition

A merger in which a new corporate entity is created from the two merging companies, which cease to exist. opposite of a statutory merger.

Use this term in a sentence

You should try to make sure that you are keeping open relationships with both sides during a statutory consolidation with another company.

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The statutory consolidation was the result of drastic changes being implemented in the organizational structure of two break even companies.

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We recently created a new entity from our existing companies via a statutory consolidation to ease both federal and state regulatory compliance burdens.

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