MERGER AND ACQUISITION ON SHAREHOLDERS WEALTH IN NIGERIA

In today's economy, mergers and acquisitions are happening more and more around the world, with the main goal of collaborating with other companies that can be more profitable than operating alone in the market. The study therefore examined the effect of merger and acquisition on shareholder wealth in Nigeria. The study used a correlational research design, with the goal of establishing correlations between variables of interest. The data used were collected from secondary source through the annual report and Nigeria Exchange Group Factbook for a period of 2012 to 2022. The population of this study consisted of 13 deposit money banks listed on the Nigerian Exchange Group as at 31st December, 2022. A total number of 12 deposit money banks listed on the Nigerian Exchange Group were purposively sampled because they have readily available information and were fully listed on the Nigeria Exchange Group. The result shows that corporate governance as an independent variable to shareholders’ wealth as measured by earnings management of the listed banks under study appears to have positive and insignificant effect on shareholders wealth. In this study, we sufficiently established different positions on the links between merger, acquisition and shareholders wealth and of banks in Nigeria. Based on the findings of this study, the researcher recommends given the varying positions established in the study regarding the links between mergers, acquisitions, and shareholders' wealth, companies contemplating such strategic moves should conduct thorough due diligence. This includes comprehensive assessments of potential benefits and risks to ensure informed decision-making