A document that informs the shareholders in advance of a vote to approve the issuance of new shares of stock in the merged company. For example, in share-for-share merger deals, the acquirer usually drafts a prospectus before it issues stock, and the acquired company will need to publish a proxy statement to secure shareholder approval of the merger or acquisition transaction.

The securities and exchange authorities permit the combination of the two documents into one (a merger proxy/prospectus).