H1B transfer after 140 approved

[sksapcv06]

Hello,

My employer said they are merging with a new company. I have already approved 140. They applied my H1B extension since its expiring soon. but its in pending for whatever reasons and not looking like getting approved but pending for long time. Employer is saying we need to file another H1 extension through newly merged firm. Is this a good idea? if so, will loose my 140 and start all over with new company? Ideas please.