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Question
Karlovsky and Sons Inc., a retail corporation reports financial losses for three years in a row. Two larger corporations, Gatsby Retail Inc. and Chelsea Sales Corp compete to acquire Karlovsky and Sons. Initially, Chelsea Corp. places a higher bid than Gatsby Retail Inc. but eventually backs out of the merger. In the end, a Boston-based MNC named J.Y. Corp. acquires Karlovsky and Sons and permits the latter to expand as a wholesaler. Which of the following is the surviving corporation in this scenario?
A) Gatsby Retail Inc.
B) Chelsea Corp.
C) J.Y. Corp.
D) Karlovsky and Sons
Answer
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