Strategic combinations and divestitures

We analyzed hundreds of companies, worldwide, across a decade-long business cycle. The conclusion? Winners change their business mix, year after year. Laggards sit still.

New research confirms that companies that regularly and systematically pursue moderately sized M&A deliver better shareholder returns than companies that don’t.

Keeping your deal team small ensures confidentiality, but pinpointing synergies requires bringing more people on board. Here’s how to strike the right balance.

Digital M&A is challenging—and often a necessity for digital transformation. Sophisticated acquirers boost their odds by addressing the pain points that undermine outperformance.

Adhering to four key principles can help companies increase the odds that their collaborations will create more value over their life cycles.

The recent spate of spin-off announcements reveals the limits of diversification as well as some of the potential value-creating benefits of separations.

Companies often struggle to capture the full value of a separation. Here’s how to do better.