What is a 'Congeneric Merger'
A congeneric merger is a type of merger where two companies are in the same or related industries but do not offer the same products. In a congeneric merger, the companies may share similar distribution channels, providing synergies for the merger.
BREAKING DOWN 'Congeneric Merger'
As a general rule, mergers fall into one of several categories, such as horizontal, vertical, congeneric or conglomerate. An example of a congeneric merger is Citigroup's acquisition of Travelers Insurance. While both were in the financial services industry, they had different product lines.