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Either the company is not streamlined, under-performing due to bad management, or the two companies combined compliment each other profitably. No matter the reason for the merger the end result is a financially sound benefit.
Dubious reasons for merging with or acquiring a company are made for the sole benefit of making a profit by fooling investors. The bootstrap game is a ploy where companies acquire another company when no evidence of financial gain is apparent. But because of ability to buy a company whose stock is at a lower value a company can use greater profitability divided by less shares on the market to increase the value of its stock...
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