We perform a set of non-radiative hydrodynamical simulations of merging spherical halos in order to understand the angular momentum (AM) properties of the galactic halos seen in cosmological simulations. The universal shape of AM distributions seen in simulations is found to be generically produced as a result of mergers. The universal shape is such that it has an excess of low AM material and hence cannot explain the exponential structure of disk galaxies. A resolution to this is suggested by the spatial distribution of low AM material which is found to be in the center and a conical region close to the axis of rotation. A mechanism that preferentially discards the material in the center and prevents the material along the poles from falling onto the disk is proposed as a solution. We implement a simple geometric criterion for the selective removal of low AM material and show that in order for 90% of halos to host exponential disks one has to reject at least 40% of material. Next, we explore the physical mechanisms responsible for distributing the AM within the halo during a merger. For dark matter there is an inside-out transfer of AM, whereas for gas there is an outside-in transfer, which is due to differences between collisionless and gas dynamics. This is responsible for the spin parameter λ and the shape parameter α of AM distributions being higher for gas compared to dark matter. We also explain the apparent high spin of dark matter halos undergoing mergers and show that a criterion stricter than what is currently used would be required to detect such unrelaxed halos. Finally, we demonstrate that the misalignment of AM between gas and dark matter only occurs when the intrinsic spins of the merging halos are not aligned with the orbital AM of the system. The self-misalignment (orientation of AM when measured in radial shells not being constant), which could be the cause of warps and anomalous rotation in disks galaxies, also occurs under similar conditions. The frequency and amplitude of this misalignment are roughly consistent with the properties of warps seen in disk galaxies.
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