Mergers, acquisitions, and joint ventures comprise some of the largest expenditures for corporations. You read about the 10 billion dollar Newmont Mining Corp announced a merger with Canadian counterpart Goldcorp Inc on January 14 to form a combined entity(Links to an external site.) named Newmont Goldcorp, which will be one of the world’s largest gold producers by output. OR the $35-billion Fidelity National Information Services deal which agreed to purchase payment processor Worldpay with the combined firm's estimated pro forma annual revenue of $12 billion. All of 2019 mergers and acquisitions were in multi-million dollar investments.

How do or can mergers and acquisitions develop synergy through vertical or horizontal integration?