What is required for a corporation to engage in a merger or consolidation?

For a corporation to engage in a merger or consolidation, it is necessary to obtain approval from at least two-thirds (2/3) of the voting stockholders. This requirement ensures that a significant majority of the stakeholders support the decision, reflecting a broad consensus among those who have an ownership interest in the company.

The rationale behind this requirement is to protect the interests of the shareholders and ensure that essential corporate changes, like mergers or consolidations, are made with adequate backing from those who will be directly affected by such decisions. A simple majority may not provide sufficient assurance that the shareholders’ views are collectively represented, especially considering the potential impacts on the company's future and operations.

Other options like requiring approval from an accountant or federal regulatory bodies do not standardly apply to the internal decision-making process for mergers and consolidations among shareholders. While regulatory approval may be necessary in some specific circumstances or industries after stockholder approval, it is not a prerequisite for the decision by stockholders themselves.