Final answer:
Horizontal, vertical, and conglomerate mergers are types of corporate mergers involving firms in the same or different industries, each serving specific strategic purposes.
Explanation:
A horizontal merger occurs when two or more firms that produce the same kind of product join together. This type of merger aims to grow larger, increase efficiency, acquire new product lines, eliminate rivals, or lose corporate identity.
The second type is a vertical merger, which involves firms in different stages of manufacturing coming together to protect against potential supplier losses and streamline the manufacturing process.
A conglomerate merger is a firm that owns at least four businesses producing unrelated products, aiming to diversify risk and protect profits across various industries.
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