3 ideas
Most acquisitions fail not at the negotiating table but afterward, in the integration of people, systems, and cultures. The synergies used to justify the price are only realized through disciplined post-close execution.
Integration must be planned separately across finance, operations, technology, human resources, and culture, because each combines on a different timeline and logic. A single monolithic plan fails to respect these distinct workstreams.
Differences in decision speed, hierarchy, and values between merging firms cause attrition and friction that erode the deal's economics. Cultural due diligence must be as rigorous as financial due diligence.