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.
Parowan is a city in and the county seat of Iron County, Utah, United States. The population was 2,565 at the 2000 census. Parowan became the first incorporated city in Iron County in 1851. A fort that had been constructed on the east side of Center Creek the previous year was an initial in the development of ironworks in the region. Parowan served as the agricultural support base for the local iron industry, whose blast furnace was located in nearby Cedar City. Eventually, the ironworks were decommissioned. Despite occasional successes, the mission failed to produce a consistent and sustained supply of pig iron. By 1858, most of the area's mining operations had ceased due to disappointing yields. Today, the area's chief industries are recreation and tourism.