The corporate sector in India has witnessed a substantial growth of Mergers and Acquisitions (M&As) during the 1990s, facilitated by the policy-shift under Structural Adjustment Program. During the first wave (i.e., 1990-95), the Indian corporate houses seem to have been bracing up to face...

Mergers and acquisitions are widely recognized as a fast‐track to organizational growth, increased profitability and greater market share. They seem to offer easy gains without the pain of lengthy sales drives or costly R&D programs. However, several recent studies have found that around half...