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.
Pengilly is a small unincorporated community in eastern Itasca County, Minnesota, United States. Located in the northern part of the state, it lies in the Iron Range region at the northern end of Swan Lake. Pengilly is located between Grand Rapids and Hibbing at the junction of U.S. Route 169 and Minnesota State Highway 65.