Mergers, acquisitions, and strategic alliances are frequently occurring events in businesses, government agencies, and not-for-profit organizations. Mergers and acquisitions have the potential to accelerate the execution of a business strategy by rapidly helping a firm expand its product or service mix, move into new regional or international markets, capture new customers, or even eliminate a competitor. In this era of intense and turbulent change involving rapid technological advances and ever increasing globalization, mergers also help organizations gain flexibility, leverage competencies, share resources, and create opportunities that otherwise would be unattainable.

A merger is the integration of two previously separate entities into one new organization, whereas an acquisition is the takeover and subsequent integration of one firm into another. Of course, there are many shades of ...

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