What are the primary reasons for the merger or acquisition of study? Is this a horizontal, vertical, or related integration? How do you know? How is the firm’s market power affected? Merger and acquisition activity is increasingly common, both domestically and internationally. However, such activity does not always result in the intended outcomes. In general, shareholders of acquired firms often enjoy above-average returns, while shareholders of acquiring firms are less likely to do so. Identify a recent major merger or acquisition, such as one that made the front page of the Wall Street Journal or was a feature story in a business periodical such as Fortune, Business Week, or The Economist. Then find two or three other comprehensive articles about this merger or acquisition from more than one source, especially over a period of several weeks as the merger/acquisition events unfolded. This process of triangulation will provide a better understanding of any business activity and its results, as well as help substantiate the facts of the case.