Ten college and university mergers are discussed to present information about the reasons for such mergers, the process employed to achieve them, and their consequences. The study provides practical information about several mergers that have taken place and suggests guidelines for those who wish to consider merger. A variety of factors contributing to a merger decision are discussed including geographical proximity, complementary programs, a history of cooperative relationships, the drive to coeducation, the desire to strengthen the quality of higher educational service, and complexities of higher education financing. The processes involved in merger are outlined as are the various consequences. Closing as an alternative to merger is presented and five case studies reveal a variety of factors contributing to that decision. From the cases studied a number of generalizations and guidelines for mergers are presented along with a checklist for merger situations. (JMF)