The Saudi Companies Law provides for the possibility of mergers between companies. Nonetheless, it had been unclear whether the Capital Market Authority would permit mergers involving listed companies. This gap has been filled by a recent amendment to the Law, which tracks the merger structures permitted in the Companies Law by allowing the merger of listed companies through absorption by another company, complete merger, or Securities exchange. Before this amendment, the first regulation for controlling merger transactions was enacted in 2007 and later amended in 2017, and 2023. These legal frameworks indicate Saudi Arabia's oversight over merger activities in Saudi Arabia. However, the question remains whether these frameworks are sufficient to completely regulate merger activities, considering the impacts of merger and the increasing complexity of these transactions. This paper finds that many grey areas still exist within Saudi merger framework, such as the lack of provision for appraisal rights, inadequate regulation of Acquisitions, limited framework for post-merger integration, and ambiguity in valuation standards. This paper makes recommendations in this regard, drawing insights from the corporate landscape in the United States of America and the European Union.