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Billion Dollar Questions for Acquirers

Billion Dollar Questions for Acquirers

08 February 2017

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Competition for assets continues to rise and acquirers are finding themselves paying more for their targets. With insight into M&A strategy more sought-after than ever, new sources of information can be particularly valuable. One growing source is the academic research community, which is exploring areas such as the “performance persistence” of acquirers, how to evaluate the advantages of different types of deal advisors, and the relative advantages of buying early or late in an M&A cycle.

The findings of academic research into M&A can provide useful insight, but how do they match up with the real-world experience of deal advisors? In order to understand what veteran dealmakers think about this research, Vintage in collaboration with Mergermarket spoke to four leading experts, as well as an M&A researcher, for their views.

Key topics discussed include:

  • What qualities and practices make for “extraordinary acquirers” in today’s highly competitive market?
  • Why is previous fund performance at private equity firms often not predictive of future fund performance?
  • Is a 2016 working paper correct in saying that late followers in a wave of deal activity can sometimes have an advantage over early movers?