10 signs of a good acquisition

With markets booming, low interest rates and a lack of internally generated growth, management teams are looking to grow their companies through mergers and acquisitions.Australian M&A activity totaled US$37bn in the three months to the end of March, almost double its level in the same period a year ago, boosted by deals like Japan Post’s $8bn takeover of Toll Holdings (ASX: TOL), TPG Telecom’s (ASX: TPM) $1.4bn bid for iiNet (ASX: IIN) and the proposed $2.2bn merger of Novion Property (ASX: NVN) and Federation Centres (ASX: FDC).Yet the evidence suggests that most deals end badly for shareholders. A study by KPMG in 1999, for example, highlighted that ‘83% of mergers...

With markets booming, low interest rates and a lack of internally generated growth, management teams are looking to grow their companies through mergers and acquisitions.

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