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.
Chenoa is a city in McLean County, Illinois, USA. The population was 1,845 at the 2000 census. Located at the intersections of Interstate 55, Historic Route 66, and U.S. Route 24. Founded in 1854 by Mathew T. Scott, Chenoa was created to provide a retail and trade center for his farm tenants as well as a grain shipping facility. The Chenoa Centennial was celebrated in 1954. The town is situated in a highly productive agricultural area. Two currently active businesses here are notable due to their longevity. They are Schuirman's Drug Store (now Chenoa Pharmacy) and Union Roofing. The latter company today is one of the largest roofing contractors in Illinois. Several small manufacturers operate here and a number of antique dealers are Chenoa-based. There is a small grade school located off Division Street. A well attended July 4 celebration is held in Chenoa each year.