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.
Banning is a city in Riverside County, California, United States. The population was 23,562 at the 2000 census. It is situated in the San Gorgonio Pass, also known as Banning Pass. It is named for Phineas Banning, stagecoach line owner and the "Father of the Port of Los Angeles. " Banning has a western neighbor, the city of Beaumont, which shares geographic and regional features. Beaumont has been rapidly growing in size and population since the 1980s. Both cities are about 100 miles east of downtown Los Angeles and 25 miles west of Palm Springs, each connected by freeway and railroad. City-owned Banning Municipal Airport,, has a 5,200-foot (1,600 m) runway. San Gorgonio Memorial Hospital is a General Acute Care Hospital in Banning with Basic Emergency Services as of 2005.