Seminar paper from the year 2006 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0 -, University of Applied Sciences Kufstein Tirol, course: Mergers & Acquisitions, language: English, abstract: This paper is the final paper for the course "Mergers & Acquisitions". Chapter 2 briefly summarizes the most important aspects of the course, like the distinction between mergers and tender offers, reasons for M&A, legal regulations, strategic considerations, history of M&A, defence tactics etc. Chapter 3 deals with the question, whether M&As are value enhancing. Therfore, it looks in some studies and distinguishes between short and long run effects. Chapter 4 describes an example of M&A, nameley Disney's acquisition of Pixar. It will briefly introduce the two companies, deals with the aims and objectives of the acquisition, presents the acquisition sequence and the wealth effects will be calculated, using the method of cumulative abnormal returns (CAR), also called average residuals.