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.
REVIEW OF RELATED LITERATURE
Business merger and acquisition is relatively new to the Nigeria business climate. It is a through – up of the economic depression in Nigeria in recent times.
In the view of one Mr. F.O Adegbilte (1988:5) business grouping in Nigeria prior to 1973 which was value the indeginization policy in Nigeria was enacted to ensure the participation Nigerians in ownership of business enterprises. Before the indinization policy of 1973, the few companies in Nigeria were faintly business of expatriates such as lever Brothers limited. When the indeginization act(1973) was introduced its requirement was that 40 percent share of all the companies wholly owned by foreigners be sold to Nigeria to ensure its citizen’s participation.
As one would e4xpect, this promoted foreign business separately incorporated in Nigeria to begin to regroup such that came together to form division of one company leading to the emergence of the present day multinational like the UAC Nigeria limited with its multinational ranging from 97 and company, associated industries, limited. Levantis group and the present forge between A.G Levantis and Levantis stores.
When their great merger took place, little noise was made due to the circumstance that led to the merger. Mr. okosun (1987:10) in his options held that a notable new era of merger and acquisition was when lever brother Nigeria limited and Lipton merger, thus bringing to the for all industries and sophistication that characterized business climate in 1985.
The diving motive behind business merger and acquisition are organization growth and profitability which would otherwise be virtually impossible for most participating companies to compelling situation, high incidence of bankrupt and liquidation of companies.
The merger of Akintola Williams and Adetona Isichie is expected to have a tremendous effect on auditing, constancy and financial advisory services delivery in Nigeria fore one, the merger has produced the largest indigenous firm of chartered accountants in Nigeria, by this merger, the firm now has about 33 partners and about 700 professional as well is a national branch network.