M&A; Insights

Interview

How an acquisition invigorated an asset management leader

– Jenny Johnson, president and CEO of Franklin Templeton, explains how the firm’s acquisition of Legg Mason positions it for the next phase of growth.
Article - McKinsey Quarterly

How one approach to M&A is more likely to create value than all others
– Two decades of research show that, while large deals still have their place, programmatic M&A strategies continue to create... gains in excess total returns to shareholders, at lower levels of risk.
Article

Record-breaking global M&A activity continues in first half
– Key sectors, geographies, and large deals animate the market.
Article

Achieving win-win spin-offs
– By acknowledging and addressing four factors relating to execution and operations, ParentCo can separate from SpinCo in a way... that creates value for both.
Article

Winning at private-equity integrations
– Private-equity firms use add-ons to scale portfolio companies, but poor integrations impact results. Five practices can ensure... that deals flourish.

M&A Strategy & Due Diligence

Article

The power of through-cycle M&A
– How companies can use deal making to accelerate strategic shifts during the COVID-19 crisis.
Article

A blueprint for M&A success
– Programmatic M&A can help companies build resiliency, but this approach to deal making requires a solid game plan—one... that will guide proactive deal sourcing and opportunistic deal evaluation.
Blog Post

Realizing M&A value creation in US banking and fintech: Nine steps for success
– Successful bank acquirers of other banks and fintechs invest time and resources to build an end-to-end M&A approach, including... deep understanding of how M&A serves their overall strategy.
Survey

Practice makes perfect: What sets programmatic acquirers apart
– While there is no shortcut to outperformance in deal making, a new survey finds that expert acquirers take a different approach... to strategy, deal execution, and integration.

Integration

Article

The one task the CFO should not delegate: Integrations
– The numbers show that when the finance chief is directly involved in identifying potential synergies, transformation and value-creation... opportunities, and cultural pitfalls, companies see greater deal success.
Article

Integrating marketing and brand in M&A: The way to superior growth
– Focusing on six core aspects of marketing integration can help companies get the most out of their integration efforts and the... new organization.
Article

Capturing cross-selling synergies in M&A
– Cross-selling is a leading source of post-transaction revenue synergies, requiring deep commitment and understanding of the opportunity... and how to execute on it.
Article - McKinsey Quarterly

The secret ingredient of successful big deals: Organizational health
– Creating value from a merger is not easy. Acquirers that get it right start with an overlooked advantage: a healthy organization.

Separations & IPOs

Article

Through a different lens: A McKinsey perspective on separations
– To succeed, companies need to view divestitures in a way that goes beyond the traditional M&A approaches.
Article

A case for restructuring before spin-off
– Making big operational changes before spinning off assets can be daunting, but our research indicates that doing so can dramatically... improve the odds of deal success.
Podcast

Active portfolio management: Interview with Andy West
– Senior partner Andy West discusses the latest trends in M&A in light of several recent high-profile divestitures.
Article

Divestiture in medtech: Are you the natural owner of your businesses?
– For medtech companies, divestitures can create value. But several elements are necessary to make separations successful.

Joint Ventures & Alliances

Article

Checking the health of your business partnerships
– Frequent, systematic assessments of joint ventures and alliances can reveal hidden problems and opportunities to create more value.
Article

Improving the management of complex business partnerships
– Adhering to four key principles can help companies increase the odds that their collaborations will create more value over their... life cycles.
Article

Negotiating a better joint venture
– As important as it is to secure the right terms for a shared enterprise, it is just as critical to form a sustainable relationship.
Article

Avoiding blind spots in your next joint venture
– Even joint ventures developed using familiar best practices can fail without cross-process discipline in planning and implementation.

Learning & Capability Building

Survey

Practice makes perfect: What sets programmatic acquirers apart
– While there is no shortcut to outperformance in deal making, a new survey finds that expert acquirers take a different approach... to strategy, deal execution, and integration.
Article

Organizational culture in mergers: Addressing the unseen forces
– Understanding culture, and proactively managing it, is critical to a successful integration. This requires a comprehensive approach.
Article

Equipping leaders for merger integration success
– Leadership capability building is crucial during mergers. Tailoring a program for three cohorts of integration leaders can make... a big difference.
Article

Building the right organization for mergers and acquisitions
– Support for deal making should be organization-wide.

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