Tennessee Business Combination Act

The Business Combination Act governs acquisitions of and changes in control of corporations, setting the conditions under which a corporation may be combined with or acquired by another party. Its central mechanism is an approval requirement for covered acquisitions, paired with definitions establishing which corporations and transactions fall within its reach and a set of exemptions that place others outside it. The act also confirms the validity of shareholder rights plans and addresses the duties a corporation and its directors owe when responding to an acquisition proposal.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.