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.
Synergy, or the potential financial benefit achieved through the combining of companies, is often a driving force behind a merger. BREAKING DOWN 'Synergy' Mergers and acquisitions (M&A) are made with the goal of improving the company's financial performance for the shareholders.