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.
Butner is a town in Granville County, North Carolina, United States. The population was 5,792 at the 2000 census. Butner was managed by the state of North Carolina from 1947 through 2007. A bill passed by the North Carolina General Assembly incorporating the town was signed by Gov. Mike Easley on July 27, 2007. It is the former site of the U.S. Army's Camp Butner, which was named for Major General Henry W. Butner (1875–1937), a North Carolina native. Butner is the home of the Butner Federal Correctional Institution (3 units and a Hospital): Umstead Correctional Center, Murdock Mental Retardation Center, John Umstead Hospital, and C.A. Dillon School, Polk Correctional Institute and Central Regional Hospital.