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.
Norwalk is a suburban city in Los Angeles County, California, United States. The population was 103,298 at the 2000 census. In 2009 the population was 107,698. Founded in the late 1800s, Norwalk was incorporated in as a city in 1957. It is located 17 miles (27 km) southeast of downtown Los Angeles, and 12 miles (19 km) northwest of Garden Grove. Prior to the 1950s, Norwalk had a large Dutch population, primarily connected to the large number of dairies in the area. Due to an influx of immigration primarily from Mexico, the Latino population has grown significantly. In the 1990s, Norwalk gained a significant Asian population from families priced out of wealthier neighboring Cerritos and communities in Orange County. Norwalk operates under a Council/Manager form of government, established by the Charter of the City of Norwalk which was drafted in 1957. The five-member City Council acts as the City's chief policy-making body. Every two years, Councilmembers are elected by the citizens of Norwalk to serve four-year, overlapping terms. Councilmembers are not limited to the number of terms they may serve. The Mayor is selected by the Council and serves a one-year term. Norwalk is a member of the Gateway Cities Council of Governments. Norwalk's sister cities are Hermosillo, Sonora and Fresnillo, Zacatecas in Mexico.