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.
Pascoag (pronounced Pas-coag) is a census-designated place (CDP) and village in Providence County, Rhode Island, United States. The population was 4,742 at the 2000 census. Pascoag is one of at least eight villages that make up Burrillville. It can trace its origins back to the first half of the 18th century, when a saw mill and other businesses were built in what is now the village center. In the 19th century, Pascoag became a textile manufacturing town, an industry that continued until after World War II. Recent history includes an incident involving groundwater contamination. A test of the groundwater conducted on September 14, 2001 showed that the water contained the ether MTBE (methyl tertiary-butyl ether) at levels of about 600 ppb (Parts Per Billion). This was the first public statement concerning the presence of MTBE in Pascoag drinking water, though residents claim to have detected it as early as May, 2001. MTBE is a gasoline additive intended to enhance octane levels. It is believed to have come from leaking tanks at a local Exxon Mobil gas station. As the situation was resolved over the following months, nearly 1,500 residents of Pascoag responded by filing a lawsuit against Exxon Mobil through the law offices of Napoli, Kaiser, and Bern. The lawsuit is pending as of May 2, 2005. Official documents regarding the incident are archived at the Pascoag Utility District Homepage. External Links: History of Pascoag (pdf) Pascoag Utility District Homepage