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 Kansas, mergers and acquisitions (M&A) are governed by state statutes, particularly the Kansas General Corporation Code, as well as federal law. An acquisition in Kansas occurs when one company, the acquirer, purchases the stock, equity interests, or assets of another company. Depending on the terms of the acquisition, the acquired company may continue to operate independently, or it may be fully integrated into the acquiring company. A merger, in contrast, involves the combination of two companies into a new entity. Both processes require compliance with various legal requirements, including approval by the board of directors and shareholders of the involved companies, filing appropriate documents with the Kansas Secretary of State, and adhering to antitrust laws to prevent unlawful monopolies. It is important for companies to consult with an attorney to navigate the complex legal landscape of M&A to ensure that all transactions are conducted in accordance with the law and to address any regulatory concerns that may arise.