Business ethics only seem to work in training sessions or until you get caught....... It's not true to say that they can't be related, only that they shouldn't be.
They would only need another 10% for control and there are many ways for them to achieve that. They may not appear to be related..... but a name means nothing and the internal source of their funding may or may not be similar - it's a risk.
The risks are now very different, and I think the package is a disaster for investors. That said I think the directors probably had little option and this is likely the best they could do.
Business ethics only seem to work in training sessions or until...
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