Difference between a merger and an acquisition

One of my colleagues at ESSEC Business School, Rick MARCHESE, is teaching the Mergers and Acquisitions (M&A) course in the Master in Finance on Singapore campus.

He was asked at the beginning of the course what the difference was between a merger and an acquisition.

His answer was: “If you are the buyer, it’s an acquisition. If you are the target, it’s a merger.”

With the recent events in the financial sector, he recently had a great illustration for his definition from two very credible sources…

Press release by UBS
UBS Press release
Source: UBS.


Press release by Credit Suisse
UBS Press release
Source: Credit Suisse.

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  1. Pingback: M&A Strategies: Benefits and Challenges - SimTrade blogSimTrade blog

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