In order to acquire critical mass, companies need to become larger. Two groups in the same sector that merge are able to strengthen their commercial positions on an international level. Link-ups are also possible between companies in different but complementary sectors.
On completion of the merger, the two companies will have pooled their assets and their activities, creating a new entity.
Mergers may follow on a takeover bid or an exchange offer.

The ad-hoc sector, geographic or product teams, such as the Advisory for Listed Companies team, work together, assisting the client in every step of the transaction, which is a relatively long process: business valuation, definition of merger parities, dealings with stock exchange authorities, etc.