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1. The scheme involves a DIVISION where the undertaking, property and liabilities of the company in respect of which this arrangement is proposed are to be divided among and transferred to two or more companies.

2. Any other entity may CONSOLIDATE to a corporation of this State by filing in the office of the Secretary of State.

3. Some companies prove to be unable to survive competition and one exit strategy is to MERGE into a larger company (or be acquired).

4. A business combination in which none of the previous companies survives is usually referred to as ‘CONVERSION’.