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, ...
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