M&A Insights

Article

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 - McKinsey Quarterly

When bigger isn’t always better
– The recent spate of spin-off announcements reveals the limits of diversification as well as some of the potential value-creating... benefits of separations.
Article

Divesting with agility
– Research shows that active, efficient reallocation of resources creates better returns for companies than simply standing pat... does. Here’s how to make portfolio decisions faster.
Article

What’s keeping you from divesting?
– Active portfolio management can create significant competitive advantages. Still, executives routinely shy away from separations.... Here are six common roadblocks and some tips for breaking through.
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.

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.

More insights

Article

Post-close excellence in large-deal M&A
– The most successful large-deal transactions follow four key practices during integration execution.
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.
Interview

Indonesia and Islamic banking: An interview with Hery Gunardi
– The CEO of the newly merged Bank Syariah Indonesia (BSI) describes how digital and mobile capabilities unlock new opportunities... for Islamic banking within Indonesia—and beyond.
Article

How to find and maximize digital value in any M&A deal
– Even when digital capabilities aren’t the centerpiece of a deal, they still can provide significant deal value with the... right due diligence and integration planning.
Article

A new prescription for M&A in pharma
– Adopting a through-cycle approach to deal making in the wake of the COVID-19 pandemic can position pharmaceutical companies for... greater success in the next normal.
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

India’s post–COVID-19 economic recovery: The M&A imperative
– The humanitarian and economic dislocations resulting from the pandemic have affected companies in India and the world. Several... strategic themes can support a stronger recovery into the next normal.
Article

The next normal in consumer: Implications for Consumer Goods M&A
– Lessons from the global financial crisis teach us that consumer goods companies should consider an active approach to M&A,... adapted to the current context, to emerge stronger in the next normal.
Article

Three degrees of separation: How to successfully execute divestitures
– The seller’s focus on three key interrelated activities—defining, marketing, and disentangling—can help expedite the transfer... of divested assets and increase total deal value.
Article

The next normal: Retail M&A and partnerships after COVID-19
– Now is the time to think about retail M&A after the coronavirus crisis. Five trends could unlock opportunities for retailers,... brands, and investors to shape the next normal.
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.
Podcast

Digital disruption and the role of M&A
– Mergers, acquisitions, and divestitures are an important way for companies to reposition their organizations to compete in the... digital age.
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

Managing and supporting employees through cultural change in mergers
– Mergers represent an enormous operational and cultural change for employees. Culture is too often neglected. Don’t fall into this... trap.
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.

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