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.
Albion is a borough in Erie County, Pennsylvania, United States. The population was 1,607 at the 2000 census. A neighboring, larger town which many Albionites may associate with is Edinboro, and the much larger but more distant city of Erie. It is part of the Erie Metropolitan Statistical Area. One of their main industries is Albion State Correctional Institute. The bordering borough of Cranesville, has a little over a third the population of Albion (600 at the 2000 census) The town was ravaged by a F4 tornado that was part of the 1985 United States-Canadian tornado outbreak on May 31, 1985.