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.
Sheffield is a village in Bureau County, Illinois, United States. The population was 946 at the 2000 census. It is part of the Ottawa–Streator Micropolitan Statistical Area. Sheffield was founded by Joseph E. Sheffield and Henry Farnam in 1852. Sheffield and Farnam constructed the Chicago and Rock Island Railroad, and the town site was intended as a coaling station for trains. According to Farnam, he and Sheffield flipped a coin to see for whom the town would be named. A monument to Joseph E. Sheffield, and the Rock Island Railroad stands today in Sheffield's town square.