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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Integration strategy defines what must combine, what should not and in what order
The objective is to translate deal logic into choices about operating models, systems, people and governance after close.
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 challenges
Which targets genuinely fit the acquisition thesis?
The challenge is narrowing a broad universe using criteria tied to strategy, economics, capability and transaction feasibility.
Where does M&A genuinely improve the portfolio?
The challenge is identifying where acquisition changes strategic position faster or better than organic investment, partnership or exit.
POV
Keeping an asset is an active capital-allocation decision
If leadership would not buy the business today, it should have a very clear reason for continuing to own it.
A carve-out is not complete when ownership changes; it is complete when dependency ends
Separation should be judged by operational independence, not by the legal date on which the transaction closes.
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.
A clear deal thesis defines the economic and strategic logic before valuation dominates
Explicit assumptions make it easier to test fit, alternatives and the conditions required for the acquisition to create value.
What we observe
Operational diligence often focuses on cost opportunities and misses execution fragility
Apparent efficiency can conceal capacity bottlenecks, key-person dependence, weak controls or deferred investment.
Cross-border deals often price the asset before pricing jurisdictional complexity
Foreign ownership rules, integration limits and political exposure can alter value even when the target itself remains attractive.