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
Integration is where the deal thesis gets tested
How post-merger operating choices, synergy discipline and organizational readiness determine whether expected transaction value reaches performance.
Read articleFocus
Acquisition readiness tests whether the buyer can absorb what it wants to acquire
Strategic fit matters only if capital, leadership capacity, operating model and integration capability can support the transaction.
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.
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.
Which businesses no longer justify their place in the portfolio?
The challenge is separating temporary underperformance from assets whose strategic fit, economics or ownership logic has structurally weakened.
POV
A forecast is not commercially credible because the spreadsheet balances
The revenue case should be supported by observable customer and market behavior, not by internal consistency alone.
A synergy without an owner, action and baseline is not value; it is optimism
Deal economics should include only benefits that can be traced to specific changes the combined business can realistically execute.
Strategic impact
A clear consolidation thesis defines where successive deals can reinforce one another
Explicit scale and capability logic helps buyers distinguish coherent platform building from opportunistic asset accumulation.
A structured build-partner-buy view makes strategic alternatives comparable
Assessing control, speed, economics and dependency helps leadership avoid defaulting to acquisition when another route is superior.
What we observe
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.
Deal theses often become rationalizations after a target has already attracted attention
Strategic language can be retrofitted around momentum when the underlying reason to own the asset remains weak.