The UK Competition & Markets Authority (CMA) states that the proposed $40bn merger deal between Nvidia and the UK chip specialist Arm “raises serious competition concerns” and warrants a more detailed investigation.

Write an essay that discusses, with reference to relevant theoretical and empirical literature, the following

(i) The various reasons for proposed mergers,

(ii) The merger process including an overview of the regulation surrounding mergers

(iii) How target companies can attempt to avert hostile takeover bids.