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.
Lowgap is an unincorporated community in the Franklin Township of Surry County, North Carolina. Lowgap is named for the "low gap" the community is settled in among the Blue Ridge Mountains. The community has an elevation of 1,457 feet. Landmarks near the center of the community include the community post office, the community library housed in the former Lowgap School, fire department and area churches. North Carolina Highway 89, also known as West Pine Street, serves as the main thoroughfare in the community.