The economy has undergone significant transformations since the implementation of accelerated structural reforms. Facing various macro and micro-level challenges common to developing economies, the government introduced a comprehensive strategy addressing economic, social, political, legal, and financial aspects. This approach aims to improve competitiveness in the short term while ensuring long-term sustainability. To adapt to the constantly changing business environment, organizations have increasingly recognized the need for corporate restructuring, which is essential for survival, growth, efficiency, and competitiveness amid both opportunities and challenges. In recent years, many companies have announced restructuring initiatives to achieve rapid growth. Corporate restructuring can take many forms, but mergers and acquisitions (M&As) have emerged as the most popular method. This strategy has become a vital component of long-term growth plans for corporate. Since 1992, there has been a notable rise in the number of M&As in the market, accompanied by a significant increase in their market value. Mergers and acquisitions involve changes to an organization's corporate structure, including substantial modifications to its business or financial framework, with the goal of enhancing value for stakeholders.