Which is NOT a type of synergy that can result from a merger?

The correct answer is based on the fact that marketing synergies are not typically classified as a distinct type of synergy in the context of mergers. In merger discussions, synergies are usually categorized into three main types: revenue synergies, cost synergies, and financial synergies.

Revenue synergies refer to the potential to increase sales post-merger through cross-selling opportunities, expanded market reach, or improved pricing power. Cost synergies involve the reduction of expenses through economies of scale, elimination of duplicate functions, or enhanced operational efficiencies. Financial synergies may arise from improved capital structure or greater access to financing due to the combined entity's greater scale and stronger balance sheet.

While marketing plays a critical role in the integration process and can benefit from aggregated resources and expertise, it does not stand as a primary category of synergy like the others do. Therefore, the option of marketing synergies is not recognized as a standard type of synergy in most merger-related contexts, making it the correct answer for this question.