Mergers and acquisitions

Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined. As an aspect of strategic management, M&A can allow enterprises to grow, shrink, change the nature of their business or improve their competitive position.

From a legal point of view, a merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's stock, equity interests or assets. From a commercial and economic point of view, both types of transactions generally result in the consolidation of assets and liabilities under one entity, and the distinction between a "merger" and an "acquisition" is less clear. A transaction legally structured as a merger may have the effect of placing one party's business under the indirect ownership of the other party's shareholders, while a transaction legally structured as an acquisition may give each party's shareholders partial ownership and control of the combined enterprise. A deal may be euphemistically called a "merger of equals" if both CEOs agree that joining together is in the best interest of both of their companies, while when the deal is unfriendly (that is, when the management of the target company opposes the deal) it may be regarded as an "acquisition".

Merger (politics)

A merger, consolidation or amalgamation, in a political or administrative sense, is the combination of two or more political or administrative entities, such as municipalities (in other words cities, towns, etc.), counties, districts, etc., into a single entity. This term is used when the process occurs within a sovereign entity.

Unbalanced growth or outward expansion of one neighbor may necessitate an administrative decision to merge (see urban sprawl). In some cases, common perception of continuity may be a factor in prompting such a process (see conurbation). Some cities (see below) that have gone though amalgamation or a similar process had several administrative sub-divisions or jurisdictions, each with a separate person in charge.

Annexation is similar to amalgamation, but differs in being applied mainly to two cases:

Merger (horse)

Merger (foaled 1965 in Alberta) is a Canadian Thoroughbred racehorse best known for winning the 1968 Queen's Plate, Canada's most prestigious horse race.

Merger was bred and raced by Golden West Farms, a partnership of prominent Canadian businessmen, Frank McMahon and Max Bell.

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