Despite all the studies and articles regarding M&A activity eroding shareholder value, the reality is that companies are improving their M&A planning and execution. Business activity is as old as dirt and M&A activity dates back to the early years of the Industrial Age. Andrew Carnegie reportedly scribbled a number on a napkin while playing golf that was later accepted by J.P. Morgan and created one of the more visible mergers of that time forming U.S. Steel. Of course, thanks to Hart Scott Rodino, senator Paul Sarbanes and representative Michael Oxley, and many regulatory organizations such as the SEC and (more…)

I’m on the train heading back from New York City and reflecting on the M&A event I just attended – the Conference Board’s Business Development Conference. I was fortunate to meet many senior M&A executives from various industries representing the who’s who of M&A professionals – people like Jacqui Winship of Whirlpool, David Holder of Baxter International and Jeanne Quirk of Tyco Electronics. All had journeyed to NYC, the city that never sleeps, coming from Michigan, Chicago and the Philadelphia metropolitan area, and representing diverse businesses. Why did all these M&A professionals converge to this conference and what wisdom were (more…)

Once again Robert Bruner produced yet another excellent book about Mergers and Acquisitions. This time the subject is M&A failure and the pitfalls of following an M&A strategy. Robert is the Dean of the Darden School of Business – University of Virginia, one of the top business schools in the United States, and he is the author of several other books including the premier M&A text book used in most MBA courses in the US and abroad– Applied Mergers and Acquisitions (John Wiley & Sons).

If you Google “M&A failure” on the internet you will get a plethora of results (more…)