Can’t always tell if some insight has subtle power or is just stating the blindingly obvious? Me neither. BCG says Seize M&A opportunities while they last and presents the usual financial ratio research to prove that acquisitions in a downturn generate better returns than those made in the upturn.
Why is this surprising – when targets’ values in the upturn will inevitably reflect the underlying growth, to which an acquiror has to add for the deal to generate value? Still, even if obvious, ...Continue Reading →