Higher ed is experiencing important challenges on many fronts, including significant excess undergraduate capacity. The majority of college and university sectors, with the exception of the very large institutions, have experienced significant declines in enrollment. While closures do not benefit anyone, particularly students, mergers represent opportunities for institutions to not only survive but also to thrive. This session will address three key questions: (1) Why should higher ed leaders routinely consider mergers during strategic planning?, (2) How do mergers benefit students?, and (3) What are the leadership competencies and skills needed to undertake what some call 'Big Scary Change'?