The investor community is impacted by and influences acquisitions. Managers considering the dual nature of investor relationships may provide a competitive advantage to the focal firms. The members of the investor community we consider are: (1) analysts, (2) banks, (3) institutional investors, (4) media, and (5) private equity and venture capital firms. Each stakeholder is influential in deals, but there may be conflicting interests among stakeholders related to ownership stakes, insider information, and temporal priorities, challenging the stakeholder management of investors. We review and summarize existing M&A research for the above-listed members of the investor community. We review evidence of each stakeholder’s effects and actions toward M&A and their respective outcomes. Through this discussion, we elaborate on conflicts of interest and how they can affect M&A performance. Finally, we discuss the implications and opportunities for M&A research and managers.