The article discusses how stock market misvaluations can drive mergers and acquisitions. The model presented in the article looks at the values of the companies involved, the managers' timeframes, and how the market sees the benefits of the merger. This model helps explain why certain companies acquire others, whether they pay with cash or stock, the impact on company values, and why there are periods of increased mergers. The model is supported by real-world data on merging companies and makes new predictions about future mergers.