Good for the shareholders, you mean. What are euphemistically called “synergies” in the M&A world..i.e. combined functions to eliminate redundant functions and fewer people means less G&A, higher op profit.
The finance companies made a killing convincing all of the defense companies to use their profits to buy back stocks rather than invest in R&D for the future.
Now that bubble has burst, so they have to come up with some other way to make fees: consolidation to take advantage of 'synergies'.
When that bubble bursts they'll find yet another way: spin-offs to allow the separate units to 'focus on their core competencies'.
Rinse and repeat.