What Is M&A?

Mergers and acquisitions (M&A) occur when one company buys another, or when two or more businesses combine to form a unified entity. M&A transactions are notoriously complex, creating a strong need for specialized expertise among the professionals who oversee them.

Degrees exclusively devoted to mergers and acquisitions are rare. However, you can pursue M&A coursework and concentration tracks in fields like accounting, business, finance, and law. Some schools also offer M&A certificate programs to complement degrees in relevant but more general fields.

Explore this unique, technical, and strategically important specialization, and connect with academic programs that teach relevant accounting, business, and finance skills.

People sometimes use the terms “mergers” and “acquisitions” as equivalent terms, but they actually describe distinct concepts. Learning their specific meanings is an essential first step to understanding their defining features.

A merger occurs when two or more businesses combine to form a single, new business entity. Mergers often involve companies of similar size that voluntarily combine their resources to improve their market position or otherwise enhance their competitive positioning.

Acquisitions can materialize in many ways, but they always involve one company buying and assimilating another into its internal operations. The acquired company may be a willing or unwilling participant. When it is a willing party, the transaction is known as a “friendly takeover.” Otherwise, it is called a “hostile takeover.”

M&A activities often involve complex financing mechanisms, and they have significant implications for financial reporting, auditing, strategic development, and change management processes. Accounting, business, and finance students interested in M&A careers can benefit from coursework covering the analytical considerations and technical procedures involved in such transactions.

Schools typically include M&A coursework in their accounting, business, business law, and finance curricula. The core concepts these courses cover include:

Specifically from an accounting perspective, M&A courses generally focus on:

Mergers and acquisitions are not an introductory concept. You will more likely encounter M&A courses in your junior and senior years of your undergraduate education and at the graduate level.

It is rare for degrees to focus solely on mergers and acquisitions. Dedicated M&A programs more commonly lead to certificates.

However, you can use electives and concentration tracks to build an M&A specialization into an undergraduate or graduate degree. The following subsections explore how these programs look and function at various levels.

You may want to take M&A courses as an undergraduate to:

Mergers and acquisitions are complex, making M&A studies a more natural fit for the master’s level. As a graduate student, you can build on established knowledge frameworks, and you may therefore find it easier to understand and master M&A concepts.

If you decide to pursue an M&A career, consider professional certifications you could obtain and research their educational requirements. Two examples include the certified M&A specialist credential from the M&A Leadership Council and the mergers and acquisitions professional designation from the Institute for Mergers, Acquisitions, and Alliances/DIFC Academy.

Finally, consider studying mergers and acquisitions at the undergraduate and graduate levels. This way, you can continue developing expertise throughout your education, positioning you for career success. However, you will need to make stronger time and financial commitments to your academics.