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.
Detroit Lakes is a city in the U.S. state of Minnesota and the county seat of Becker County. The city's population was estimated at 8,131 in 2008 by the United States Census Bureau. Its unofficial population during summer months is much higher due to seasonal residents and tourists. From 1990 to 2000, the city experienced approximately 11% population growth. U.S. Routes 10 and 59, and Minnesota State Highway 34 serve as the primary arterial routes through the city. Detroit Lakes is located 45 miles east of the Fargo-Moorhead ND-MN statistical metropolitan area. The nearest major metropolitan area with a population over 300,000 is Minneapolis-St. Paul, which is approximately 205 miles southeast of Detroit Lakes. Detroit Lakes is a regional summer and winter recreation destination, attracting large amounts of tourists and seasonal residents each year. Its economy is fueled by seasonal population increases, with tourism being the area's chief industry along with agriculture.