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.
Pontiac is a city in the U.S. state of Michigan named after the Ottawa Chief Pontiac. As of the 2000 census, the city had a total population of 66,337. It is the county seat of Oakland County. Considered a satellite city of Detroit, it is surrounded by affluent Metro Detroit suburbs. The city is best-known for its General Motors manufacturing plants (GM's primary truck plant was formerly in Pontiac) and the GM automobile brand, Pontiac, which was first produced in and named after the city. Also of note is the Pontiac Silverdome, the stadium that hosted the Detroit Lions from 1975 until 2002 when they moved back to Downtown Detroit. On February 20, 2009 the State of Michigan placed the city into receivership, and the Department of Treasury appointed Fred Leeb the city's emergency financial manager in March 2009.