Amendment to cbject clause for acquiring another company engaged in different business
Syed Jawad Quader
(Querist) 07 March 2011
This query is : Open
My client, Company A, wishes to acquire Company X. Company A's and Company X's businesses are totally different.
Question 1: Can Company A alter its objects clauses to acquire a company from a completely different field of business?
Question 2: Does "acquire" or "purchase shares" impliedly entail Company A's rights to:
a. vote in a General Meeting of Company X?
b. elect its choice of Directors in Company X?
c. to carry on business in Company X?
Question 3: If the answer to any of the questions in Question 2 is negative, then how can i draft any amendment to the objects clause of Company A?
I would appreciate any answers very much. Thank you.
