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 North Dakota, mergers and acquisitions (M&A) are governed by state statutes, particularly the North Dakota Business Corporation Act, as well as federal law. 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. The legal process for M&A in North Dakota requires compliance with various regulations, including the preparation of a plan of merger or acquisition, approval by the board of directors and shareholders of the involved companies, and filing the necessary documents with the North Dakota Secretary of State. Additionally, depending on the size and nature of the transaction, federal antitrust laws enforced by the Federal Trade Commission and the Department of Justice may require pre-merger notification and approval under the Hart-Scott-Rodino Antitrust Improvements Act.