An outstanding feature of modern industry is business combinations. In almost every sphere of business activity, some from of combination exists between different units. The term combination has been derived from "combine" which mean joining together. In the word of Haney.
"To combine is simply to become common purpose." A business combination occurs when two or more business firms co-operate with one another formally or informally for the purpose of attaining some common objective, e.g., to stabilise price and increase profits. A business combination is a compound combination as against partnership, companies and corporations which are "simple combinations" of natural persons. McGregor has defined an industrial combination as "a method of economic organisation by which a common control of greater or less completeness is exercised over a number of firms which either have operated hitherto or cloud operate, independently, This control may be either temporary or permanent, for all or only for some purposes." According to Dr. kothari "combination by whatever name called, refers to any informal or formal combination of two or more industrial units, producing similar or different articles or engaged in the successive processes of manufacturing of an article with a view to earn maximum profit on the capital employed."
"To combine is simply to become common purpose." A business combination occurs when two or more business firms co-operate with one another formally or informally for the purpose of attaining some common objective, e.g., to stabilise price and increase profits. A business combination is a compound combination as against partnership, companies and corporations which are "simple combinations" of natural persons. McGregor has defined an industrial combination as "a method of economic organisation by which a common control of greater or less completeness is exercised over a number of firms which either have operated hitherto or cloud operate, independently, This control may be either temporary or permanent, for all or only for some purposes." According to Dr. kothari "combination by whatever name called, refers to any informal or formal combination of two or more industrial units, producing similar or different articles or engaged in the successive processes of manufacturing of an article with a view to earn maximum profit on the capital employed."
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