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h1b extension and travel

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my H1b and i-94 expires on nov 20 2014 and i have applied for extension. 



1) my company (x) has been acquired by another company (y)

2) the visa stamp was from old company.(x)



1) can i travel outside usa  and come back before nov 20th? considering if my extension was approved.


2)  would it be a problem at the border if i came back with just few days left?


3) what happens if my visa gets rejected what are options?



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No, you cannot travel and come back, you need to schedule an appointment with Consulate, apply & get your new I-797 with updated company information and state that it was acquired by new company.

At POE IO might look for your current company on your I-797 & passport but in reality it does not exist since you know it was already acquired by new company. 

I hope your visa would not be rejected but if it does then talk to your attorney/employer as USCIS would clearly indicate the reason for denial.

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