The economic history has been divided into Merger Waves based on the merger activities in the business world as:
| Period | Name | Facet |
|---|---|---|
| 1897–1904 | First Wave | Horizontal mergers |
| 1916–1929 | Second Wave | Vertical mergers |
| 1965–1969 | Third Wave | Diversified conglomerate mergers |
| 1981–1989 | Fourth Wave | Congeneric mergers; Hostile takeovers; Corporate Raiding |
| 1992–2000 | Fifth Wave | Cross-border mergers |
| 2003–2008 | Sixth Wave | Shareholder Activism, Private Equity, LBO |
Read more about this topic: Corporate Advisory, History of M&A
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“There is no sea more dangerous than the ocean of practical politics—none in which there is more need of good pilotage and of a single, unfaltering purpose when the waves rise high.”
—Thomas Henry Huxley (1825–95)