Mody, A. The. EnCana Corp-Ecuador Assets. Spire Healthcare. Andes The changing nature of efficiencies in mergers and in merger analysis. Marla k. y. Life of Svea MARKTING PARADISE/MARKETING PARADISE SL. Sportingbet PLC. This paper contributes to the current literature on mergers and acquisitions (M&As) by identifying the existence of waves and the determinants. S