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When a transaction closes, the new company will simply take over performance as the successor-in-interest to the old company. The merger agreement will already assign the rights and obligations under existing contracts to the buyer without a new, specific process for each existing agreement.

Examples of merger clauses include: Example 1: Renewing an executive director's contract. Example 2: Nullifying all other agreements when renting to a tenant. Example 3: Buying a business outright from another individual.

This part of the agreement can cover everything involving the seller's business operations, including but not limited to corporate authorization, contracts, employee matters, compliance, financial statements, liabilities, and asset titles.

Merger refers to a strategic process whereby two or more companies mutually form a new single legal venture. For example, in 2015, ketchup maker H.J. Heinz Co and Kraft Foods Group Inc merged their business to become Kraft Heinz Company, a leading global food and beverage firm.

Mergers and acquisitions tend to result in job losses for employees in redundant areas in the combined company. The target company's stock price could rise in an acquisition leading to capital gains for employees who own company stock.

The three main types of mergers are: Horizontal. Vertical. Concentric.

A merger is a business deal where two existing, independent companies combine to form a new, singular legal entity. Mergers are voluntary. Typically, both companies are of a similar size and scope and both stand to gain from the transaction. Mergers happen for a variety of reasons.