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.
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.