Consolidation

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Consolidation

The combining of two or more firms to form an entirely new entity.

Consolidation

A type of merger in which two or more companies create an entirely new corporate entity and transfer all their assets and liabilities to the new entity. The former companies may continue to exist on paper, but they have no assets or liabilities. For example, the lawyers for the consolidating companies may go the secretary of state and form a new limited liability company (usually by paying a fee of $50 or so). After this is done, all assets and liabilities are given to the new LLC.

consolidation

A combination of two or more firms into a completely new company. Assets and liabilities of the firms are absorbed by the new company. Compare merger.
References in classic literature ?
If anything can more closely cement and consolidate the esteem which Mr.
Moreover, his father, who was a man of thorough instruction, omitted no opportunity to consolidate this keen intelligence by serious studies in hydrography, physics, and mechanics, along with a slight tincture of botany, medicine, and astronomy.
It's taken a long time, but we've pretty nearly done it," he said; "it remains to consolidate.
Bureaucracy, made up entirely of petty minds, stands as an obstacle to the prosperity of the nation; delays for seven years, by its machinery, the project of a canal which would have stimulated the production of a province; is afraid of everything, prolongs procrastination, and perpetuates the abuses which in turn perpetuate and consolidate itself.

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