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 places a higher bid than Gatsby Retail but eventually backs out of the merger. In the end, a Boston-based multinational company (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
D
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