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 Wyoming, mergers and acquisitions (M&A) are governed by state statutes, particularly the Wyoming Business Corporation Act for corporations, and other relevant laws for different types of business entities. An acquisition in Wyoming typically involves one company (the acquirer) purchasing the stock, equity interests, or assets of another company. Depending on the structure of the acquisition, the acquired company may continue to operate independently, or it may be fully integrated into the acquiring company's operations. A merger, in contrast, is a legal process where two companies combine to form a new entity, or one is absorbed into the other. The resulting company assumes all assets, rights, and liabilities of the merged entities. The process of M&A in Wyoming requires adherence to specific procedural steps, including approval by the board of directors and shareholders of the involved companies, filing appropriate documents with the Wyoming Secretary of State, and compliance with federal regulations such as antitrust laws enforced by the Federal Trade Commission and the Department of Justice.