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.
Athens is a village in Claiborne Parish, Louisiana, United States. The population was 262 at the 2000 census. The Pilgrim's Pride poultry hatchery in Athens was designated for closure early in 2009, along with other company businesses in nearby Arcadia in Bienville Parish, Choudrant in Lincoln Parish, and Farmerville in Union Parish, where the company maintained a processing and protein conversion plant. Several weeks later, however, Pilgrim's Pride accepted an $80 million offer from Foster Farms of California to purchase the operations. In addition, to the 1,300 direct jobs, mostly in Farmerville, the purchase spares the small farms of some three hundred independent growers. Foster Farms put up $40 million and the State of Louisiana a matching $40 million. Foster Farms will further invest $10 million in capital improvements at the Farmerville plant, to be matched by the state, in an agreement announced by Governor Bobby Jindal.