Mergers of equal partners are seldom. Most cases of M&A are just acquisitions. An acquisition, if founded on a strategic plan, is one of several ways to enhanced influence in an industry, to drive through economies of scale and scope, to force the learning curve, to stable sales and/or keep competitors out in definite sales channels.

Or it is just a way to empower internationalization, to use brands by buying them, to use technology by buying it. Normally an acquisition as method beats all competing methods if financial resources and time play a role in decision making. Nearly never generic growth can beat the growth through an acquisition.

Since the role of time as a resource play a more and more important role, acquisition - no matter as the activ or passiv part - is more and more a standard measure which has to be used by leaders. Abandonment of acquisitions as a strategic measure can cause high costs since chances of development steps are gone.