This research takes a look at the adoption of merger and acquisition as a growth strategy   in   business   organization.   There   is   no   gainsaying   the   fact   that   many companies have been having financial problems. The reason is not far fetched.This is as a result of mismanagement and economic meltdown. In order to save such unhealthy situation in such companies from going into liquidation, merger and acquisition can be used to revive such companies if properly adopted. Even though   merger   and   acquisition   are   used   interchangeably,   they   have   some differences. A merger occurs when two or more separately existing companies agree to come together to form a new single company. Acquisition or takeover on the other hand is the purchase of controlling power or interest in one company by another   company,   such   that   the   acquired   company   becomes   a   subsidiary   or division of the acquirer. 

This research work highlighted the benefits involved in the   adoption   of   merger   and   acquisition   as   a   growth   strategy   in   business organization. The population of the study consists of all the Nigerian companies that  have adopted merger and acquisition at  one time or the other. Three  (3)organizations   were   selected   as   sample   for   the   study   using   convenient   and judgmental techniques of sample selection. Data were collected from secondary source and subsequently analyzed using Ratio Analyses. The finding of the study shows that merger and acquisition is an effective and efficient growth strategy in business organization. However, the study concluded that even though merger and acquisitions may not bring about  the desired goal and objectives of organizations,its impact is beneficial. 

Finally, the study recommends that organizations that are not doing well should adopt mergers and acquisitions as the strategy will help the management to overcome developmental and environmental challenges in business especially in this era of economic crises.