Through an empirical capital market-oriented study (Event Study) of 419 mergers and acquisitions from 1996 to 2001, the development of stock prices at the announcement and execution of transactions in the German market for corporate control is analyzed. This allows for insights into whether corporate acquisitions are perceived by financial markets as profitable or detrimental. Additionally, the driving motives and objectives of a merger, as well as the causes of potential increases in corporate values and stock prices of the involved companies, are examined. The subsequent discussion of a takeover process addresses financing, structuring, and execution of the purchase offer, as well as possible issues that may arise. Furthermore, measures to fend off a hostile takeover are presented.