M A（兼并收购）中「Merger」和「Acquisition」有何区别？ - 知乎 Merger ：简单来说就是最后只有Acquirer 存在了 A+B=A One firm is acquired by another Acquiring firm (acquirer) retains name and acquired firm (acquired) cease to exist Advantage - simple to organize and cheaper than the alternatives Disadvantage - must be approved by shareholders of both firms; gaining approval can be slow and costly Consolidation： 相对 Merger 和 acquisition