Yes.
I worked for a bank which got bought out by another bank. They did offer me 2 different jobs, but both would have given me a 1 1/2 hour commute (3 hrs round trip). With an almost 2yo, I didnt want that so I left. I was given a bonus for staying on until the end of the merger and I was able to collect umemployment with the reason being "Job elimination, due to company acquisition". Others were also able to do this when they didnt want the jobs they were offered.