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.
Albert Lea is a city in and the county seat of Freeborn County in the southeastern part of the U.S. state of Minnesota. The population was 18,356 at the 2000 census. The city is at the junction of Interstates 35 and 90, about 90 miles south of the Twin Cities. It is on the shores of Fountain Lake, Pickerel Lake, Albert Lea Lake, Goose Lake, School Lake, and Lake Chapeau. Fountain Lake and Albert Lea Lake are part of the Shell Rock River flowage. The city's early growth was based upon agriculture, farming support services and manufacturing and was a significant rail center. At one time it was the site of Cargill's headquarters. Other manufacturing included Edwards Manufacturing (barn equipment), Scotsman Ice Machines, Streater Store fixtures, and Universal Milking Machines. Like many U.S. towns much of the manufacturing base has diminished. A long-time center of the city's job opportunity was the Wilson & Company meat packing plant, later known as Farmstead and Farmland. This facility was destroyed by fire. The largest employer is currently Albert Lea Medical Center/Mayo with over 1,500 jobs.