Two unrelated individuals each holding ½ of the shares of a corporation will not be considered to act in concert simply because the consent of both is required before the corporation can undertake any action. In order to act in concert, there must be some arrangement where they have agreed to vote their shares in the same manner or have their nominees to the board vote together on most matters. Alternatively, they have common interests such that it would be reasonable to conclude that they will vote their shares together.
