Mergers – Procedure for obtaining Consent of the FIRS & Tax Considerations

  1. Introduction:
  1. By virtue of the Federal Competition and Consumer Protection Act, 2018, a merger occurs when one or more undertakings directly or indirectly acquire or establish direct or indirect control over the whole or part of the business of another undertaking. A merger may be achieved through the purchase or lease of shares, interest, or assets of one of the merging parties by the other; (ii) amalgamation or other combination of the undertakings of the merging entities; or (iii) joint venture.
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