The two main types of deal structures in M&A are acquisitions and mergers. A merger is a transaction through which two or more companies become one. Most mergers are statutory—that is, they’re specifically defined by state law. State merger statutes generally provide for two types of mergers: long-form and short-form.

I. Long-Form Mergers

In a traditional long-form statutory merger, the parties negotiate a deal, the boards of directors approve the deal, a regulatory review...