There is nothing like failure for teaching hard lessons. A new book by Michel Driessen, Anna Faelten and Scott Moeller looks at why deals have failed – and crucially, how to avoid the pitfalls in the future.
Learning from your mistakes is a mantra drummed into most of us in childhood. Many dealmakers may be loath to admit it, but sometimes deals fail, and mistakes are at the heart of that failure. So what are the lessons. More importantly, how can those insights help prevent mistakes in future deals. Why Deals Fail (And How To Rescue Them), published by Economist Books, brings together insights from dealmaking and academia, about how to make a success of M&A and the lessons to be learnt from high-profile failures of big-ticket deals to add value.
Between them, the three co-authors have advised on almost 700 deals. Michel Driessen, EY senior partner and head of markets for UK transaction advisory services, focuses on synergy assessment, post-merger integration and operational restructuring. He is also a senior visiting fellow at Cass Business School.
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