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Analyze the effects of the following on M&A activities:
1) Accounting (revenue enhancement, cost reduction, risk management)
2) Taxes (shields, synergies, WACC)
3) Legal (corporate organization and ownership, litigation risk, law compliance)
4) Select at least two effects from each category and explain it's relevance in pursuing an M&A strategy.
Based on research of the subject matter, prepare a concise yet detailed outline including introduction, body (corresponding to the topics below), conclusion and references (last section of outline). The outline must include properly formatted APA citations and references. Length should be sufficient to cover the subject matter.