This study examines the impact of four major acquisitions related to renewable energy on the stock value of Total Energies (TE). A mixed method approach was adopted, combining qualitative analysis to understand the drivers behind these acquisitions and generate hypotheses about the impact of acquisition events on stock prices, followed by an event study approach to examine abnormal returns on the company's stock price in the short and long term. Findings indicate that, in the short term, these acquisitions resulted in positive returns for TE indicating that the market recognised TE's transformation efforts, but the long-term results were mixed, which may be due to model and data limitations. The study also identified the key role of market forces in driving the energy transition and the importance of synergies and diversification of technology paths in constructing a long�term energy transition strategy. By conducting a clinical study focused on a specific energy company, this research aims to provides in-depth insights and valuable guidance for other companies in the sector on using M&A to facilitate energy transitions, thereby supporting the green transformation of the energy industry.