Mergers and acquisitions have been pronounced and adopted with the profound need to combat the economic crisis and neutralize the detrimental effects of the COVID-19 pandemic. The uncertainty and risks involved in undertaking business operations have rapidly given rise to the strategic and systematic execution of cost-cutting measures and survival techniques. Mergers and acquisitions are one of the most effective strategies for the survival of a company through the creation of synergies and leveraging on economies of scale. The aim of the study was to establish the economic impacts of mergers and acquisitions in the corporate world. The study specifically sought to analyze and determine the extent to which mergers and acquisitions affect the selected variables constituting market share, shareholders' wealth, portfolio diversification, employment, and economies of scale. The analysis apparently observed that mergers and acquisitions have no significant impact on shareholders' wealth in the short run, as indicated by stock price movements, despite commanding an extensive customer base and market share, reduction of operation costs based on economies of scale, and mitigation of financial risks through portfolio diversification. The corporate employees always impede any kind of mergers and acquisitions due to the uncertainties and apprehensions associated with their engagements and organizational culture pitting them against the conventional narrative that change is inevitable.