Mergers and acquisitions are transactions in which the ownership of companies, other business organisations, or their operating units are transferred or consolidated with other entities.

1. With reference to relevant theoretical and empirical literature, identity and discuss the various reasons proposed for mergers.
2. Review the merger process.
3. The defensive strategies a company employs to thwart a hostile takeover can have a significant impact on its shareholders, including sometimes a decline in shareholder value. Outline the strategies that companies who are subject to a hostile takeover can potentially take to thwart an unwanted takeover bid.