Merger and consolidation refer to two legally distinct proceedings, but consolidation is also used to refer to all types of corporate combinations.

Consolidation

A contractual and statutory process in which two or more corporations join to become a completely new corporation.

Corporate Combinations

Mergers or acquisitions between companies to consolidate assets, operations, or management.

Merger

A contractual and statutory process in which one corporation (the surviving corporation) acquires all of the assets and liabilities of another corporation.