The company today is the result of several mergers involving other hotel management and ownership companies.

More generally however, a horizontal merger can involve both costs and benefits.

In some areas like personnel, this merger will involve eliminating up to 30 percent of the jobs.

Since then, almost every merger has involved a lawsuit.

In fact, many such mergers have involved considerable compromise by the church hierarchy.

Analysts have said that a merger most likely would involve a stock swap.

There have been several other mergers this year involving small drug companies like Shire.

It could not be determined yesterday if the merger would involve sizable layoffs.

The merger would involve a tax-free exchange of stock for securities in a new holding company.

But more important for building economies of scale has been the high number of mergers involving funds themselves.