Kim Warren on Strategy
Strategy insights and living business models
M&A Keep our heads this time?
The Economist reports that M&A activity is bouncing back, and as noted in other posts (search ‘downturn’ and ‘crisis’), strong firms should be taking advantage of weak conditions to buy up low-priced opportunities – provided of course they know how to do that well (see Building acquisition capability).
Let’s beware, though, of the dark side of M&A
- the pursuit of growth for growth’s sake, with no resulting strategic advantage
- ego-driven lunacy (remember Royal Bank of Scotland)
- … not forgetting, of course, that many deals are sold by advisors, regardless of their advisability to the client.
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