“…Research shows that mergers and acquisitions (M&As), especially cross‐border ones, have become a fundamental international growth strategy for many firms from emerging or developing economies (Degbey & Ellis, 2017, 2019; Liou & Rao‐Nicholson, 2017; Oguji & Owusu, 2017; Peng, 2012). At the same time, while African countries have experienced dramatic economic growth in recent years, international business (IB) research attention on Africa has also been growing owing to the marked rise in the cross‐border economic activities of African firms (Boso, Adeleye, & White, 2016; Ibeh, Wilson, & Chizema, 2012; Oguji, Degbey, & Owusu, 2018).…”