1 Hourglass: Torso and hips are approximately the same width - with waist definition.  Apple: Torso and upper body wider than your hips - with little or no waist definition. You might have weight surrounding your waist.
From a legal point of view, a merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's stock, equity interests or assets.
A: Some of the reasons for mergers and acquisitions (M&A) include: 1. Synergy: The most used word in M&A is synergy, which is the idea that by combining business activities, performance will increase and costs will decrease.