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.
Novi is a city in Oakland County of the U.S. state of Michigan. As of the 2000 census, the population was 47,386. In 2007, the city completed a special census which places the current population at 52,231. The city is located approximately 25 miles (40 km) northwest from the center of Detroit. The city is located within the boundaries of the survey township of Novi Township. Presently, the remaining unincorporated township is only a tiny fraction surrounded by the city. Novi is one of the fastest growing cities in Michigan. The construction of Twelve Oaks Mall in the 1970s made the city a major shopping destination in the Detroit metropolitan area and is often credited with ushering in an era of growth that continues to this day (although, in fact, the community had been growing rapidly since the 1950s). This growth has led to substantial increases in the city's population, as well as commercial and industrial developments in the city. Since the city is a shopping destination for the metropolitan area, the community has become increasingly affluent and developed in recent years.