Mergers & Acquisitions are typically expressions of growth strategies from the perspective of acquiring companies. However, Timo Grünert investigates whether M&A activities can also be used to manage corporate crises. Do M&A measures support the crisis management process, can they significantly advance it, or do mergers during corporate crises act as crisis accelerators? The author develops approaches for the effective use of M&A measures in crisis management, which he initially reflects on through several significant case studies. He demonstrates that crisis companies can also take on the role of the process-initiating acquirer in M&A processes. Building on this, alternative M&A strategies in corporate crises are examined for their success within the framework of an event study. It becomes clear that mergers.