In the law of corporations, a merger is effected when one or more corporations becomes a part of, or merges, with another corporation so that one ceases to exist and the other continues to exist. In a merger, the company that continues to exist retains its name and identity and acquires the assets, liabilities, franchises, and powers of the corporation that ceases to exist. Attorneys who practice in mergers and acquisitions (sometimes called M & A) represent corporations and other business entities in strategizing, negotiating, and carrying out transactions in which two or more companies or corporations combine into a single new entity, a merger, or where one business purchases and absorbs the assets of another, an acquisition.
Prudhoe Bay is a census-designated place (CDP) located in North Slope Borough in the U.S. state of Alaska. As of the 2000 census, the population of the CDP was 5 people; however, at any given time several thousand transient workers support the Prudhoe Bay oil field. The airport, lodging, and general store are located at Deadhorse; the rigs and processing facilities are located on scattered gravel pads laid atop the tundra. It is only during winter that the surface is hard enough to support heavy equipment and new construction happens at that time. Prudhoe Bay is the unofficial northern terminus of the Pan-American Highway. A few tourists, arriving by bus after a two-day ride up the Dalton Highway from Fairbanks, come to see the tundra, the Arctic Ocean, and the midnight sun, staying in lodgings assembled from modular buildings. Prudhoe Bay was named in 1826 by British explorer Sir John Franklin after his classmate Captain Algernon Percy, Baron Prudhoe.