Relations between lists in SharePoint 2010?

You can still make a column in the third list though it won't be containing the same info as the company column in the second list. This relationship can be done in SharePoint, it just cant be shown in a view configurated in the UI.

You can use the Filtered LookUps Column as avaliable in codeplex solution.. When you create a column with Filtered lookup , it will provide you an option to create new column using a column defined in another list or You can even generate a query on that list or you can create view for the same.

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