After recalling the main features of the recent merger wave, this article surveys the different motives of external growth operations and analyses their impact on the wealth of shareholders of companies involved as well as their consequences for competing firms and consumers in the light of the theoretical and empirical literature.
CHARLETY-LEPERS, P. (2002). Etat des lieux et ampleur du phénomène en Europe et dans le monde. Les Cahiers de la Fondation. Europe et Société, pp. 9-13.