In 2010, it was reported that corporations in the United States [US] accounted for over 56% of worldwide merger activity that year, securing $4.84 trillion of the aggregate $7.48 trillion. This merger ‘wave’ was induced by the undercurrents of antitrust law, which in turn was responding to the political and social milieu. Mergers between large corporate entities are not simply determined by economic reasoning – they have a significant impact on society and as such political involvement is inevitable. To gain a comprehensive understanding of mergers, and the reasons why certain eras are marked with merger waves, it is essential to recognize the political forces surrounding them. This approach provides an insight into the global political economy, making our discussion of mergers meaningful.