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Reyes et al. vs. Blouse et al. (QUEBAL) advisable by the Board of Directors
6. 92.5% of the stockholders of LTB present approved the
resolution
Doctrine: a merger implies necessarily the termination or 7. Petitioners, the minority stockholders of LTB who dissented
cessation of the merged corporations and not merely a merger of the resolution, filed this injunction case to restrain its Board
their properties and assets. of Directors composed of the defendants from carrying out
the resolution, contending that the alleged merger is
Issues: prejudicial to the interests of LTB.