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.
Cresson is a borough in Cambria County, Pennsylvania, 75 miles (121 km) east of Pittsburgh. Cresson is an elevated place known for its beauty. Mineral springs add to its attractions. It is above 2,000 feet (610 m) in elevation. Lumber, coal, and coke yards were industries that had supported the population which numbered 1,470 in 1910. It is part of the Johnstown, Pennsylvania Metropolitan Statistical Area. The population at the 2000 census was 1,631. The location was named Cresson in 1854, as a memorial to philanthropist Elliott Cresson. Railroads, specifically the Allegheny Portage Railroad, fueled the growth of the area. Many famous businessmen from Pittsburgh maintained summer residences in the area.