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.
Read articleRelated macro
M&A strategy
Shape M&A strategy from portfolio rationale and target priorities through diligence, value creation and integration.
Discover the macroEditorial overview
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.
Read articleFocus
Target intelligence looks beyond reported performance to strategic relevance
The objective is to understand ownership, positioning, capabilities, dependencies and the factors that may alter a target's attractiveness.
M&A strategy should begin with portfolio logic, not with available targets
Acquisitions create value when they support explicit choices about where the enterprise wants to compete and allocate capital.
Strategic challenges
What changes when the target sits in another jurisdiction?
The challenge is understanding how regulatory, political and operating differences affect deal structure, execution and integration.
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
A good target can still be the wrong acquisition for an unprepared buyer
Deal quality depends partly on the acquirer's ability to absorb complexity, not simply on the attractiveness of the asset.
A cross-border deal is never just a domestic deal in another currency
Jurisdiction changes what can be owned, integrated, governed and extracted from the transaction.
Strategic impact
Independent target intelligence strengthens early acquisition judgment
External evidence on positioning, capabilities and exposure helps buyers decide where deeper diligence is warranted.
Strategic diligence clarifies whether the target strengthens enterprise direction
Testing fit and alternatives helps leadership judge whether the transaction improves strategic position or simply adds another asset.
What we observe
Target lists often become long because acquisition criteria remain vague
Broad screening creates activity but little discrimination when strategic fit is described in generic rather than testable terms.
Deal teams often catalogue risks without identifying how the transaction actually fails
Long risk registers create limited insight when the few assumptions capable of destroying value are not isolated and tested.