Describe the relationship between conglomerate mergers and portfolio theory. What is the desired result of merging two

Question:

Describe the relationship between conglomerate mergers and theory. What is the desired result of merging two unrelated businesses? Has the empirical evidence proven corporate diversification to be successful?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...