Abstract The purpose of this thesis is to discuss the reason why international merger and acquisition intensely happened in particular industries? What is the real intention of the merger and acquisition? According to analyzing the M&A cases in Taiwan¡¦s securities investment trust industry, the motivations that international businesses group merged local company are based strategic and market motivations. Because the international business group has advantages to entry Taiwan and the group¡¦s strategy to internalize. Another reason is that the Great China economic region is forming the international business group have to shorten the schedule to acquire the regional advantage. On the other hand, the local company has strongly motivation to merge with international business group. As the result the M&A cases happened.