Underlying objectives of merger and acquisition. What are the objectives underlying M&A and to what extent are these achieved?

Table of content
1. Introduction
2. M&A fundamentals
3. Motives for M&A
3.1 Market power
3.2 Economies of scale
3.3 Synergy effects
3.4 Diversification
3.5 Incorporate transaction cost
3.6 Value discrepancy
3.7 Managerial utility
4. Application to business environment
4.1 Google¿s acquisition of Motorola
4.2 Pfizer¿s acquisition of Allergan
5. Conclusion