摘要：Many studies have examined the effects of mergers and acquisitions, but their results vary significantly. Thus, mergers and acquisitions are one of the most popular corporate restructuring activities undertaken by various organizations, institutes, companies (both private and public), agencies, and establishments, all in a quest to achieve the desired aim of the companies. But a pertinent question exists as to if mergers and acquisitions (M&A) have produced the desired goals and objectives of the companies. Therefore this study aims to examine the results, empirical preference, and author's opinions of existing literature as to if M&A had produced synergy gains or not. Bibliometric analysis is the methodological procedure used in this study. A total number of fifty (50) high-profile literatures were qualitatively examined, and it shows that M&A produced synergy gains to the level of 48%. From the analysis, M&A was also found not to produce synergy gain to the level of 28%, thus making the remaining 24% to be associated with authors whose views weren't explicit and those that are undecided to M&A producing synergy gains. This review study recommends that horizontal mergers and acquisitions be encouraged to increase the companies' market share, leading to their desired goals and objectives.
关键词：mergers and acquisition; bibliometric review; synergy; performance
