This study ascertains the influence of merger and acquisition as a growth and survival strategy. The crisis facing so many corporate firms as a result of capital inadequacy has led to the collapsing of so many firms. As a result, it is the objectives of this study to evaluate the impact of merger and acquisition on growth and survival of corporate firms using banks as study, to ascertain whether the banks have grown and survived as result of merger and acquisition. A survey research method was applied. Data were collected through primary and secondary sources. The population samples were drawn from two groups i.e. Access Bank and First City Monument Bank. A judgmental sampling technique in which 45 and 50 of each samples were selected was adopted for convenience sake. Data were analyzed using “Z” test as an inferential statistics for testing of differences in perception of participants on merger and acquisition as a means of growth and survival and improving its earning per share. Ratios of the banks used for study were employed for evaluation purposes. A regression analysis was adopted to express the quantitative relationship among variables i.e. Return on Capital Employed (ROCE) and Earning per Share (EPS), used in this study -the financial ratios for pre-merger and post-merger. The result obtained after the analysis showed that merger and acquisition act as a means for growth and survival and improvement of earning per share of the banks. Based on this, the study recommends that firms should re-train and re-educate its employees on the new company’s culture so as to ensure a smooth transition and improved processes.