Due diligence for assets that are changing underneath the deal
Why commercial, operational and technology diligence must increasingly test future scenarios rather than validate historical performance.
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M&A strategy
Shape M&A strategy from portfolio rationale and target priorities through diligence, value creation and integration.
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Articles
M&A strategy when the obvious targets are gone
How companies can build a stronger acquisition radar by connecting portfolio logic, target intelligence and strategic fit before competition intensifies.
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Cross-border M&A adds geopolitical and operating complexity to ordinary deal risk
Regulation, culture, market access, capital controls and integration conditions can materially alter transaction economics.
Strategic diligence asks whether the transaction still makes sense under scrutiny
It tests fit, competitive logic, alternatives, downside and whether ownership advances the buyer's broader strategic position.
Strategic challenges
What technology risks are hidden beneath the target's current performance?
The challenge is identifying where architecture, technical debt or cyber exposure may constrain growth or increase post-close investment.
Why should this business be owned rather than built, partnered with or ignored?
The challenge is proving that acquisition is the best strategic route, not simply the fastest route to a desired capability.
POV
The most important diligence question is still whether the deal should exist
No amount of financial or operational analysis can rescue a transaction whose strategic logic was weak from the beginning.
Most failed deals were not unknowable; they were insufficiently challenged
The discipline is to attack the investment case before the market, integration or balance sheet does it later.
Strategic impact
A disciplined acquisition radar makes target identification more selective
Clear filters help leadership focus on businesses that fit strategic needs before time is spent on detailed evaluation.
Independent target intelligence strengthens early acquisition judgment
External evidence on positioning, capabilities and exposure helps buyers decide where deeper diligence is warranted.
What we observe
M&A pipelines often become target lists disconnected from portfolio choices
Deal activity can build momentum around available assets even when the strategic reason to own them remains weak or outdated.
Target assessments often extrapolate recent growth without testing its underlying cause
Strong historical results can conceal customer concentration, weak differentiation or favorable conditions that may not persist.