Abstract
Nowadays, mergers are very common in all sectors. Indeed, in many sectors, the competitive pressure, the decline of prices and research costs provoke numerous mergers. However, all mergers aren't successful; there are some steps to follow to avoid risks. There could be be multiple reasons to realize a merger and they may be linked to very different factors. But we notice that some relevant factors are often taken into account in this type of a decision. Indeed, the companies frequently refer to the economies of scales because the merger permits them to purchase at a cheaper price thanks to the volume. Moreover, synergies are often expected. Indeed a company could have a powerful distribution network. A merger with a competitor could permit it to sell new products where the competitor did not get a sufficient sales force. We could also invoke the fiscal reasons, the size on the market, the supplementary resources, the diversification, and so on. All these reasons are valuable factors because they could create financial value and we could see, thanks to this paper, that on the one hand the mergers and acquisitions could be realised in every sectors of the market, and on the other hand, there are different ways to lead a merger.
