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What is a merger?
an agreement by shareholders and managers of two businesses to form a new larger firm
What is an acquisition?
when a company buys the majority stake of another company and becomes the controlling owner
What is a hostile?
When a bigger company buys a smaller company in the face of resistance from the smaller company's management
Horizontal integration
A business takes over or merges with another company in within the same industry and at the same stage of production
Backwards vertical integration
A business firm takes over or merges with a supplier
Forward vertical integration
A business firm takes over or merges with a supplier
Conglomerate integration (diversification)
Integration occurs between firms in unrelated industries
Note 
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