Mergers and acquisitions can be a strategic move for businesses to grow and expand. A merger combines two companies, while an acquisition involves one company purchasing another. Major motivations for M&A include achieving economies of scale, reducing competition, increasing revenue and market share, and facilitating expansion into new markets, products, and regions. The document discusses several large M&A deals in India including Vodafone-Hutchison Essar, Kingfisher-Air Deccan, and Tata Steel-Corus, as well as the regulatory processes and potential benefits of mergers and acquisitions.