I want to change my job because of the following reasons:

1) current org got acquired
2) too much noise around restructuring, lot of exits from the team and upper management, few team members have been asked to leave.
3) change in growth/ promotion parameters - hikes will be cut from this January.

What should be an appropriate way to explain the above reasons during interviews?

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In my opinion, interviewers should not be concerned about why a person is leaving current job. They should be more keen to know how the said individual will be a value add on to their firm!
Having said that, if anyone asks you - why are you leaving your current firm, then the answer is pretty simple that there have been recent organization restructuring and I evaluated my growth opportunities both in and outside the firm and looking externally was more fruitful for a new horizon of learning and growth/development! I wanted to be proactive in taking the right steps before I witness any red flags with acquisitions and restructuring

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Thanks!

Out of curiosity where are you at now?

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