A Better Approach to Mergers and Acquisitions
The odds of M&A failure have inverted over two decades, and the firms that win are those that build repeatable acquisition capabilities.
Summary
This piece summarizes a fresh look at M&A by Harding and Bain colleagues, twenty years after research found that about 70% of deals failed. Across more than 660,000 acquisitions worth $56 trillion over two decades, the odds of failure have inverted, with most deals now succeeding. The analysis attributes the improvement to companies becoming better at acquiring, especially those that do deals regularly. It recommends treating M&A as a core
Editor's opinion
A striking, well-evidenced correction to the famous '70% of M&A fails' myth across 660,000 deals over 20 years -- a genuine settled-view correction.
Key concepts
M&A success rates · Frequent acquirers · Deal capabilities