This paper investigates whether abnormal returns exist around the announcements for Mergers and Acquisitions (M&A) that occurred from 2011 to 2019. We analyze the impact of the M&A announcements on the stock price of acquiring and acquired firms. Earlier research has shown that M&A events related to stock-generated investor reactions tend to affect the stock price of the companies involved in the M&A transactions, usually on a very short basis. When a company acquires another company, the stock price of the target company typically will rise, and the stock price of the acquiring company declines, in the short term. It is predicted, in prior research, that the target company’s stock will rise because the acquiring company pays a premium for the acquisition. Amazon, Facebook, General Electric, Google and Cisco are examples of well-known companies that have participated in M&As. Our sample consists of 33 pairs of firms that announced M&As over a nine-years period from 2011-2019. We first identify the announcement or event dates and then utilize Event-Study methodology Eventus, from the Wharton Research Database (WRDS), to test for the presence of abnormal returns around the event dates. Our results show significant positive 11. 52 percent Cumulative Abnormal Returns (CAR) for the acquired firms one day before the announcement date up to the announcement date for acquired firms. On the contrary, the results show significant negative CAR of 3.72 percent for the acquiring firms from 3 days until 30 days after the announcement date, which could be due to the premium paid to acquire.