Acquisitions are restructuring events that reshape the corporate landscape. While existing research often emphasizes the financial and strategic implications for shareholders and management, the crucial role of customers as stakeholders has received less attention. This review focuses on customers as acquisition stakeholders. It explores the variations in and effects of customer value, satisfaction, loyalty, and behavior, across both pre-merger (i.e., until the deal is finalized) and post-merger phases, through changes in product offerings, customer service (hereafter referred to as service) quality, pricing strategies, and brand management. It discusses effective strategies for managing customer concerns during M&As and identifies avenues for future research.