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.
New Franklin is a city located at the southern edge of Summit County, Ohio, United States, in the northeastern part of the state. It is bounded by Coventry Township, as well as the cities of Barberton and Norton to the north; by Chippewa Township, Wayne County; by Clinton to the southwest; by Green to the east; by Lawrence Township, Stark County to the south. The population was 15,013 according to the Census Bureau's 2006 population estimate. New Franklin is part of the Akron Metropolitan Statistical Area. In 1997 the village of New Franklin was incorporated from a section of Franklin Township to thwart annexation attempts from neighboring cities. New Franklin expanded significantly in November 2003 when the residents of Franklin Township and New Franklin voted to merge the two entities, rendering Franklin Township in Summit County defunct. The merger took effect January 1, 2005. The village officially became a city on March 6, 2006. On November 6, 2007, city residents voted against changing the city's name to Portage Lakes, 57% to 42%. The area, originally known as Franklin Township, was founded in 1817. The village of New Franklin was a part of Franklin Township; its citizens were also citizens of Franklin Township.