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If you use the ArcMap GeoProcessing Wizard on data that has M, Z, or Point ID values, these values are not maintained in the output. The following operations are affected: Dissolve, Merge, Clip, Intersect, and Union.
The data model used by the ArcMap GeoProcessing Wizard does not support update or maintenance of M, Z, or Point ID values.
There is no work-around for this issue.