CHAPTER ONE
1.0 INTRODUCTION
Growth is necessary to determine the performance and continual of any business organization. Without growth, a business can hardly attract good management to itself.
The use of merger and acquisition as a growth and survival strategy in a depressed economy like ours appears to be on the increase in recent times. This is not surprising, considering the large number of business failures and foul-ups as result of advise micro and macro economic climate.
In the face of such hostile business climate , however, some business organization that belongs to the ``wise group’’ started thinking of how to pull their resource together by the way of merger and acquisition as a survival cum growth strategy.
Business merger and acquisition has played ad important role in the growth and survival of many firms in Europe, USA, and Nigeria. But before venturing into such a gargantuan adventure, financial managers should view it as organization or employers.
1.1 STATEMENT OF PROBLEM
In the high of the confusion and tumults of the modern business environment globally, some firms have flooded up while other only managed to keep afloat. It is but interesting to observe that in the midst of such unfavorable business environment, some enterprises do not merely survive but post super profit. The logical question is what factors could account for the divergent fortunes of some firm of identical size and status in the same industry and operating in the same economy?
While not pretending to have all the answers, I make bold to state, that business merger and acquisition has become one of the fashionable surviving strategy for many companies.
It is therefore, the intension of the study to investigate the effect merger and acquisition on the performance some selected companies in Nigeria.
Further more the study will also seek to establish any possible relationship as otherwise between profitability of a company or increase in its earning per share and its merger and or acquisition scheme.
At this junction, it may be pertinent to acknowledge the view of some expects that many business fusion and acquisition had often resulted in disappointment, as the profit level of the business organization took a nose dive. Should this be the organization wishing to diversity or expand its operation would be
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