Having two results for the same search

Is this possible? (Not for spam purposes)

[Jakepot]

As I mentioned in another post, the company I was for was acquired and I need to move our current site (great rankings) to this new company's website (bad rankings) and I'm hitting a few barriers. I feel very comfortable with SEO but I have another specific question I haven't been able to find the answer to on my own.

Here's the situation... The company (New Company) that bought us has two main divisions, let's just say A and B for two distinctly different services for different markets. My company (Old Company) has a product that falls just into the B category and has great search rankings.

The problem is that for our most generic and most searched keywords, New Company comes up only with their A division which does not apply at all to our business and removing these A rankings for these terms is not a possibility. Is it possible for category B to get listed on the same page of organic results if it has a unique URL (note: the IP address is probably the same)?

I assume that Google will think this is spamming. Any ideas?