Consolidating from accountants view

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Consolidation is the practice, in business, of legally combining two or more organizations into a single new one.

Upon consolidation, the original organizations cease to exist and are supplanted by a new entity.

Under the Halsbury's Laws of England, 'amalgamation' is defined as "a blending together of two or more undertakings into one undertaking, the shareholders of each blending company, becoming, substantially, the shareholders of the blended undertakings.

There may be amalgamations, either by transfer of two or more undertakings to a new company, or to the transfer of one or more companies to an existing company".

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