In a business world, business persons boldly strive to get the patronage or custom of consumers to survive and amassed the hefty of benefit in the market. As the business environment exposed to stiff and harsh competition market actors conclude various types of arrangements or agreement to be successful in the market. Among those business arrangements which business persons routinely entered, merger is the one.

A free market economic system has been taken as a paradigm exposition for organizing and streamlining the relationship between state, private property owners and the community. Taking markets as a panacea to some of the gigantic problems that have bound the communities, such as production and distribution problems of goods and services to the community and consumers, the system got its apogee and acclamation after World War II. Before that, the theoretical base related with free market economic system was laid, in 18th century America.