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.
Patton is a borough in Cambria County, Pennsylvania, 20 miles (32 km) northwest of Altoona, in an agricultural region. It is part of the Johnstown, Pennsylvania Metropolitan Statistical Area. In 1900, 2,651 people stayed here, and in 1910, 3,907 people inhabited Patton. The population was 2,023 at the 2000 census. Patton is perhaps best known for an important local manufacturer, the Patton Clay Works. The Clay Works were one of the largest clay and brick concerns in the world in the first half of the 1900s. The company manufactured terra cotta products (pipe and tiles), building bricks, and pavers (known as "Patton Pavers"). Bricks made there were used in the construction of the Panama Canal and the pavers were used around the Eiffel Tower in Paris, France. The products were made from clay excavated from the area.