Not directly on mergers but on a similar note: Let me be the Devil's Advocate. Most of BT has offered a lot to its clients, country and beyond. However,
Being an affectee, beneficiary, client etc. of BT in my individual capacity (post 2011), I have seen my fair share of Roller Coaster that BT offers (with tempting Installment Options). One issue is selling non-existence stuff and later merger at will of BT (Awami Villas to Apartments to Ext. to Rose Garden etc.). Many other aspects, as far as management and operations of BT are not the same when MR was at his prime. Its a fact! Some start to accept, some deny that.
MR and BTK saw its peak under Altaf's MQM and with AZ Taji Khokhars' land grabbing, PH-7, PH-8 grew almost exponentially. since then its a progress downwards. That era is over, unless there is a twist (indicated below). Not knowledgeable about LHR but ISB (encroachment on CDA), KHI (state land swap with some useless land) RWP (Takht Pari etc.) have direct encroachments of litigations at the state-level
I wish, people get best out for their hard earned money. Takht Pari may send PH-8 into a dip. However, recent political development may bring MR back into the game, as things/resources are beyond JKT's ATM.
Having said that, aging is a factor that no man can fight against, MR is aging and looking at the crap of a team under Ali Riaz and Commoder's son, things are not as rosy as they used to be.
See where does Ext., PH-9, Golf City, Enclave 2 etc. stand after approaching a decade of their launch!
Personal experience and analysis, factual corrections/additions welcome!!