Mergers and acquisitions (M&A) is the catch-all term used to refer to the different forms for transferring or consolidating ownership of businesses and assets. Although the terms merger and acquisition are used interchangeably, they have different legal meanings. When one company (the acquirer) purchases the stock, equity interests, or assets of another company, the transaction is called an acquisition. Sometimes an acquired company continues to operate independent of the acquirer, and sometimes the acquired company ceases to operate independently and is absorbed by the acquirer. Mergers, on the other hand, are generally the combination of two companies, and result in the formation of a new company.

In Indiana, mergers and acquisitions (M&A) are governed by state statutes, particularly the Indiana Business Corporation Law, as well as federal regulations. An acquisition occurs when one company, the acquirer, purchases the stock, equity interests, or assets of another company. Post-acquisition, the acquired company may continue to operate independently or may be integrated into the acquiring company. Mergers, in contrast, involve the combination of two companies to form a new entity. Indiana law requires certain procedural steps to be followed for a merger or acquisition to take place, including approval by the board of directors and, in many cases, the shareholders of the companies involved. Additionally, depending on the size and nature of the transaction, M&A may be subject to federal antitrust laws enforced by the Federal Trade Commission (FTC) and the Department of Justice (DOJ) to ensure that the transaction does not substantially lessen competition.