MERGER

action of one corporation absorbing another or others. The absorbing corporation retains its identity and has claim to all properties, products, brand names, franchises, privileges ' etc., of the corporations absorbed. By merger the corporations absorbed terminate their corporate existence. In a consolidation all corporations concerned terminate their corporate existence and a new corporation is formed altogether.

a joining together; uniting; combining. —New Slant on Life Glossary Final approval 28.1.90