Masterminding the Deal

M FOREWORD asterminding the Deal: Breakthroughs in M&A strategy and analysis presents a tough-minded and systematically analytical examination of the criteria, methods and causal factors relating to acquisition success. That, historically, most mergers fail (based on failure to achieve minimally required returns to acquiring firms’ shareholders and/or speculative purchase bids well in excess of the level of realistically achievable synergies) is today accepted as conventional financial wisdom, for good reasons. No recent acquirer is likely to brand his or her own deal a flop, yet others’ past transactions are accurately viewed as disappointing at least two-thirds of the time. But the future does not necessarily have to be a repeat of merger cycles past. Masterminding the Deal helps management of acquiring companies to significantly improve their deal performance results – today and in years yet to come.