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.
Newark is the largest city in New Jersey, and the county seat of Essex County. Newark has a population of 281,402, making it the largest municipality in New Jersey and the 65th largest city in the U.S. Newark is also home to major corporations, such as Prudential Financial. It is located approximately 8 miles (13 km) west of Manhattan and 2 miles (3.2 km) north of Staten Island. Its location near the Atlantic Ocean on Newark Bay has helped make its port facility, Port Newark, the major container shipping port on Newark Bay and for New York Harbor. It is the home of Newark Liberty International Airport, which was the first major airport to serve the New York metropolitan area. Newark was originally formed as a township on October 31, 1693, based on the Newark Tract, which was first purchased on July 11, 1667. Newark was granted a Royal Charter on April 27, 1713, and was incorporated as one of New Jersey's initial 104 townships by an act of the New Jersey Legislature on February 21, 1798. During its time as a township, portions were taken to form Springfield Township (April 14, 1794), Caldwell Township (February 16, 1798, now known as Fairfield Township), Orange Township (November 27, 1806), Bloomfield Township (March 23, 1812) and Clinton Township (April 14, 1834, remainder reabsorbed by Newark on March 5, 1902). Newark was reincorporated as a city on April 11, 1836, replacing Newark Township, based on the results of a referendum passed on March 18, 1836. The previously independent Vailsburg borough was annexed by Newark on January 1, 1905. Newark is divided into five wards; North Ward, South Ward, West Ward, East Ward, and Central Ward.