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.
Greer is a city in both Greenville and Spartanburg counties in the U.S. state of South Carolina, between the cities of Greenville and Spartanburg. The population was 16,843 at the 2000 census. As of 2008, 26,040 people live in the city and is projected to hit 30,000 within 4 years. Each day, more than three times that number of people pass through the city on the two highways which run through the city. The Greenville County portion of Greer is part of the Greenville–Mauldin–Easley Metropolitan Statistical Area, while the Spartanburg County portion is part of the Spartanburg Metropolitan Statistical Area. Greer is adjacent to Greenville-Spartanburg International Airport, which serves Greenville, Spartanburg, and The Upstate. Greer is also the site of the only BMW manufacturing facility in North America. According to a June 2005 article in The Greenville News, BMW's Greer plant employs about 4,600 workers, and has attracted dozens of suppliers in South Carolina, providing jobs for more than 12,000 workers. Greer has also been home to the Michelin North America main headquarters for almost a quarter of a century. It is South Carolina's fifth biggest employer. Its longtime presence in South Carolina has amassed a work force of 9,000 and owns seven manufacturing facilities in South Carolina: Anderson, Greenville, Lexington, Spartanburg and Winnsboro.