Mergers & Acquisitions Publications

  • Making tough calls on deals - Audio slideshow with text transcript

    April 27, 2004 | Mergers & Acquisitions | Results Brief

    It's a sad fact that around two-thirds of all acquisitions fail to create value for the acquirer. Numerous studies have looked at this topic over the years, and whichever way you examine it, the success rate on deals has been shockingly low.

  • When to walk away from a deal

    March 31, 2004 | Mergers & Acquisitions | Harvard Business Review

    Effective due diligence requires answering four basic questions: What are we really buying? What is the target's stand-alone value? Where are the synergies—and the skeletons? And what's our walk-away price? Each of these questions will prompt an even deeper level of querying that puts the broader,

  • Fusing at full speed: tips on managing your integration in real time

    November 30, 2003 | Merger Integration | Benelux newsletter

    Speed is essential to successful integration. But speed isn't everything. Only 25 to 50% of deals create shareholder value, often because those managing the integration process don't know how to make tradeoffs between speed and careful planning.

  • Organising for Deal Success

    September 30, 2003 | Mergers & Acquisitions | European Business Journal

    They build experienced deal teams that get involved in all acquisitions, they commit line expertise, and they always set a walk-away price and prepare to leave the table if the deal's economics fail to make sense.

  • Should You Always Merge Cultures?

    April 30, 2003 | Merger Integration | Harvard Management Update

    Mid-size mergers are an important source of growth. But how you handle cultural integration can make or break the deal. Read Bain & Co. consultants Till Vestring, Brian King, and Ted Rouse's research on the topic of when to--and when not to--merge cultures.

  • Merger integration: why the "soft issues" matter most

    April 14, 2003 | Merger Integration | European Business Forum

    Merger integration: why the "soft issues" matter most European Business Forum By Till Vestring, Brian King, Ted Rouse and Julian Critchlow A study of 125 mergers suggests that

  • The hidden IT multiplier in mergers

    February 13, 2003 | Information Technology | The Financial Times

    When the gritty work of merging two businesses doesn't go smoothly, talent is quick to flee, legacy systems buckle under bigger loads, and projects drag as resources grow scarce.

  • The strategic leader: Six rationales to guide merger success

    June 30, 2002 | Acquisition Strategy | Strategy & Leadership

    Mergers today are altering the nature of competition in industries, harking back to transactions in the early 1900s that boldly created the likes of DuPont and General Motors.

  • The Six Habits of Highly Effective Change Managers

    February 28, 2002 | Results Delivery | Benelux newsletter

    For a company to significantly change its performance pattern, instead of merely incrementalising it, a radical change of behaviour is warranted. Unfortunately most companies, like human beings, have a hard time changing. Even if they know they must.

  • The Dawn of the Mega Supplier

    June 14, 1999 | Bain Brief

    What if buying a car were more like buying a computer? A shopper would begin by deciding what generation of engine she wanted in her sedan-say, a Cummins NTR with 200 horsepower, the reigning "Pentium" of car engines-and which interior model she wanted: say, the Lear B90 or B100.