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How does M&As work for non-profit? Like, obviously from this, a non-profit can acquire a for-profit but can a for-profit acquire a non-profit?



It's unusual because a non-profit doesn't really have an owner (stockholders). But it is still a corporation and many states in the U.S. (non-profit and for profit corporations are created under state law) allow a non-profit corporation merge with a for-profit entity. The transaction is treated like the non-profit sold its assets to the for-profit buyer and then wound down by donating the proceeds to other non-profits.




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