This study reviews and synthesizes existing research on the strategic implications and performance outcomes of corporate mergers and acquisitions (M&A). Drawing from Scopus-indexed journal articles, it examines key factors influencing the success of M&A, emphasizing managerial decision-making processes and their subsequent impact on financial performance. Using a semantic analysis approach, this review explores the intricate dynamics of M&A, highlighting the interplay between strategic orientations, organizational capabilities, and market conditions. The findings provide a comprehensive perspective on how these variables collectively shape M&A outcomes, offering actionable insights for practitioners and scholars aiming to optimize merger strategies and achieve sustainable performance improvements.