The new merged feature is attributed with the values stored in the attribute buffer.
Merge two polygons and maintain the attributes from the polygon that is selected last. The MERGE tool in Edit Tools can be used in two different ways to combine adjacent coverage polygons into one new polygon and control the attributes for the new feature. The information in this article applies to retired products, ARC/INFO and ArcInfo Workstation.
How To: MERGE adjacent polygons in Edit Tools and control the attributes of the new feature Summary