M&A question - merger VS acquisition

Does anyone know if there is a difference between an acquisition funded with 100%equity and a merger (where Target's shareholders tender their shares of Target and receive shares of Bidder in exchange).

3 Comments
 

There are very few true merger of equals (the ones described as mergers are often acquisitions that are packaged as mergers in public announcements to sound better). I remember reading that only 5% of m&a are actually MOEs

 

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