Originally published October, 2013
Corporate development is extremely risky. The stats from numerous studies are dismal:
- Anywhere between 50 percent and 90 percent of acquisitions fail to live up to financial expectations;
- Mergers fail between 50 percent and 85 percent of the time;
- Joint ventures are only slightly less dreary; they fall apart between 30 percent and 60 percent of the time.
Yet despite these bleak odds, companies and the executives running them remain undeterred. The overwhelming majority of successful private company exits in 2012 and 2013 were not IPOs but rather mergers, acquisitions or sales. This is a historical trend that is unlikely to change in the future.
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