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INDEX
SR NO. PARTICULARS PG NO.
1 INTRODUCTION TO MERGER AND 1

ACQUISITION
2 INTRODUCTION TO MERGER 2
3 TYPES OF MERGER 3
4 INTRODUCTION TO ACQUISITION 4
5 TYPES OF ACQUISITION 5
6 HISTORY OF MERGER AND 6

ACQUISITION
7 STEPS OF MERGER AND 9

ACQUISITIONPROCESS
8 PURPOSE OF MERGER AND 13

ACQUISITION
9 DISTINCTION BETWEEN MERGER AND 17

ACQUISITION
10 ADVANTAGES OF MERGER 20
11 DISADVANTAGES OF MERGER 21
12 ADVANTAGES OF ACQUISITION 22
13 DISADVANTAGES OF ACQUISITION 23
14 MERGER AND ACQUISITION STRATEGY 25

PROCESS
15 CHALLENGES DURING A MERGER AND 26

ACQUISITION
16 REASONS FOR FAILURE OF MERGER 28

AND ACQUISITION
17 CONCLUSION 20
A PROJECT ON INTRODUCTION TO MERGER AND
ACQUISITION
General management project submitted to
S.A.V ACHARYA INSTITUTE OF MANAGEMENT

STUDIES
In partial fulfillment of the requirements for
Master in Management Studies
By
ASHWINI SOMNATH SALUNKE
Specialization – FINANCE
Roll No: -9322017009
Batch: 2017 - 2019
Under the guidance of

(Prashant Sir)
S.A.V ACHARYA INSTITUTE OF MANAGEMENT
STUDIES
STUDENT’S DECLARATION
I hereby declare that this report submitted in partial fulfillment of the

requirement of MMS Degree of University of Mumbai to S.A.V ACHARYA
INSTITUTE OF MANAGEMENT STUDIES. This is my original work and is
not submitted for award of any degree or diploma or for similar titles or
prizes.
Name : ASHWINI SOMNATH SALUNKE
Class : SECOND YEAR MMS
Place : SHELU
Date : 16-02-2019
STUDENT’S SIGNATURE
CERTIFICATE
This is to certify that the dissertation submitted in partial fulfillment for the award
of MMS degree of University of Mumbai to S.A.V ACHARYA INSTITUTE OF
MANAGEMENT STUDIES is a result of the bonafide research work carried out by
MISS. ASHWINI SOMNATH SALUNKE under my supervision and guidance, no
part of this report has been submitted for award of any other degree, diploma or other
similar titles or prizes. The work has also not been published in any journals/Magazines.
Date: 16-2-2019
Place: SHELU
(DR. UPADHYAY SIR) (PRASHANT SIR )
Director Project Guide

ACKNOWLEGEMENT
It gives me an immense pleasure to present this project of, “A PROJECT ON
INTRODUCTION TO MERGER AND ACQUISITION”
I would like to take the privilege to thank our Professors. I specially thank my PROJECT
GUIDE PRASHANT SIR for guiding me throughout this project. I appreciate him for the
value support which encourages me to achieve my best. His willingness to motivate me
contributed tremendously to my project.
I thank all those people who helped me to collect information. Also I would like to thank
our librarian for rending us books as & when we needed. I thank all our faculties, my
friends and my colleagues.
Lastly, I would like to thank my parents who provided me immense strength &
continuously encouraged me to prepare this project.
THANK YOU
EXECUTIVE SUMMARY
Mergers and acquisitions are both aspects of strategic management, corporate finance and
management dealing with the buying, a selling, dividing and combining of different companies
and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a
new field or new location, without creating a subsidiary, other child entity or using a joint
venture.
Merger and acquisition can be defined as type of restructuring in that they result in some
entity recognization with the aim to provide growth or positive value. Consolidation of an
industry or sector occurs when widespread merger and acquisition activity concentrates the
resources of many small companies into a few larger ones, such as occurred with the automotive
industry between 1910 and 1940.
The distinction between a “merger” and an “acquisition” has become increasingly blurred in
various respects (particularly in terms of the ultimate economic outcome), although it has not
completely disappeared in all situations. From a legal point of view, a merger is a legal
consolidation of two companies into one entity, whereas an acquisition occurs when one
company takes over another and completely establishes itself as the new owner (in which case
the target company still exists as an independent legal entity controlled by the acquirer.) either
structure can result in the economic and financial consolidation of the two entities.
In practice, a deal that is a merger for legal purpose may be euphmistically called a “ merger
of equals” if both CEOs agree that joining together is in the best interest of both of their
companies, while when the deal is unfriendly it is almost always regarded as an “acquisition”.

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INDEX

SR NO. PARTICULARS PG NO.

1 INTRODUCTION TO MERGER AND 1

6 HISTORY OF MERGER AND 6

7 STEPS OF MERGER AND 9

8 PURPOSE OF MERGER AND 13

9 DISTINCTION BETWEEN MERGER AND 17

14 MERGER AND ACQUISITION STRATEGY 25

15 CHALLENGES DURING A MERGER AND 26

16 REASONS FOR FAILURE OF MERGER 28

General management project submitted to

S.A.V ACHARYA INSTITUTE OF MANAGEMENT

Under the guidance of

I hereby declare that this report submitted in partial fulfillment of the

Name : ASHWINI SOMNATH SALUNKE

Class : SECOND YEAR MMS

of MMS degree of University of Mumbai to S.A.V ACHARYA INSTITUTE OF

MANAGEMENT STUDIES is a result of the bonafide research work carried out by

MISS. ASHWINI SOMNATH SALUNKE under my supervision and guidance, no

(DR. UPADHYAY SIR) (PRASHANT SIR )

Director Project Guide

It gives me an immense pleasure to present this project of, “A PROJECT ON

INTRODUCTION TO MERGER AND ACQUISITION”

value support which encourages me to achieve my best. His willingness to motivate me

contributed tremendously to my project.

friends and my colleagues.

continuously encouraged me to prepare this project.

industry between 1910 and 1940.

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