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merger |
Also found in: Dictionary/thesaurus, Medical, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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The combination or fusion of one thing or right into another thing or right of greater or larger importance so that the lesser thing or right loses its individuality and becomes identified with the greater whole. In contract law, agreements are merged when one contract is absorbed into another. The merger of contracts is generally based on the language of the agreement and the intent of the parties. The merger of contracts is not the same as a merger clause, which is a provision in a contract stating that the written terms cannot be varied by prior or oral agreements. Estates affecting ownership of land are merged where a greater estate and a lesser estate coincide and are held by the same individual. For example, merger occurs when a person who leases land from another subsequently is given ownership of it upon the death of the lessor who has so provided in his will. In Criminal Law, the commission of a major crime that includes a lesser offense results in the latter being merged in the former. For example, the crime of rape includes the lesser offense of Sexual Abuse which is merged into one prosecution for rape. Cross-referencesLesser Included Offense; Mergers and Acquisitions. merger n. 1) in corporate law, the joining together of two corporations in which one corporation transfers all of its assets to the other, which continues to exist. In effect one corporation "swallows" the other, but the shareholders of the swallowed company receive shares of the surviving corporation. A merger is distinguished from a "consolidation" in which both companies join together to create a new corporation. 2) in real property law, when an owner of an interest in property acquires a greater or lesser interest in the same property, the two interests become one. Examples: a person with a life estate is given the title to the property by inheritance, the life estate is merged with the titled interest. 3) another important form of merger occurs when a person acquires two parcels of land which were once a single lot that had been divided into two lots by a "lot split" granted by the city or county. If the minimum lot size has been increased by changes in local ordinances and the two lots are now sub-standard size, the buyer who acquires title in the two lots may find that they are "merged" into one lot and he or she has lost the right to build a house on each lot. To avoid this problem, the buyer should make sure title in each lot is obtained under a different name, i.e. husband taking one, and wife the other. merger noun absorption, affiliation, alliance, assimilation, association, centralization, coalition, combination, confederation, conflation, consolidation, federation, fellowship, fusion, incorporation, integration, joinder, joint concern, loss of identity, mixture, partnership, solidarity, syndicate, unification, union, united front, voluntary association Associated concepts: compulsory merger, conglomerate merger, consolidation, forced merger, horizontal merger, merger of estates, vertical merger See also: accession, affiliation, cartel, coalescence, coalition, combination, concert, consolidation, consortium, federation, integration, meeting, syndicate, trust MERGER. Where a greater and lesser thing meet, and the latter loses its separate existence and sinks into the former. It is applied to estates, rights, crimes, and torts. MERGER, estates. When a greater estate and less coincide and meet in one and
the same person, without any intermediate estate, the less is immediately
merged, that is, sunk or drowned in the latter; example, if there be a
tenant for years, and the reversion in fee simple descends to, or is
purchased by him, the term of years is merged in the inheritance, and no
longer exists; but they must be to one and the same person, at one and the
same time, in one and the same right. 2 BL Com. 177; 3 Mass. Rep. 172;
Latch, 153; Poph. 166; 1 John. Ch. R. 417; 3 John. Ch. R. 53; 6 Madd. Ch. R.
119.
MERGER, crim. law. When a man commits a great crime which includes a lesser,
the latter is merged in the former.
MERGER, rights. Rights are said to be merged when the same person who is
bound to pay is also entitled to receive. This is more properly called a
confusion of rights, or extinguishment.
MERGER, torts. Where a person in committing a felony also commits a tort
against a private person; in this case, the wrong is sunk in the felony, at
least, until after the felon's conviction.
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368(a)(1)(A), the term "reorganization" includes a "statutory merger or consolidation" The statute places no restrictions on the type of consideration used, even if money is exchanged, as long as the transaction satisfies the continuity-of-interest requirement. announced terms of the merger agreement whereby FNF will acquire all of the outstanding stock of FNIS that it does not currently own. The research compares how supply chain performance is impacted by merger activity, by analyzing both pre-merger and post-merger performance during the 1990 to 2000 timeframe. |
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