M&A and Divestitures Challenge

积极寻求并购

并购的最初阶段看似是最简单的:选择并购目标。然而,收购者在寻求并购目标时往往是投机取巧,而非使用系统性方法,这导致了高失败率。BCG 的并购顾问帮助客户创建战略性的、可重复的并购流程,进而推动成功的企业联盟。

Choosing the wrong target for a merger or acquisition can be easy to do. Companies may be motivated by the sudden availability of appealing prospects or by cash surges that encourage spending. Others want to grab seemingly good deals before their competitors—or get too caught up in winning to walk away from bad ones.

Conversely, successful acquirers are proactive pursuers that use ongoing, disciplined, and open-minded processes to search for targets. Astute buyers ask, “Which deals will help us realize maximum value?” not “How fast can we get this one deal done?” In effect, they treat mergers and acquisitions as one more essential line of business.


BCG 如何支持成功的并购

BCG 的并购顾问为每一项业务都带来了战略性的、创造价值的视角,并通过一个高效的、以结果为导向的流程来提供全新洞察。

我们还可以帮助您规避一些常见的陷阱。例如:

Reason for Failure

  • Inadequate integration concept
  • Wrong business logic or fit
  • Wrong acquisition candidate
  • High price but low synergies

How BCG Adds Value

  • Prepare integration well before day one
  • Develop and validate strategic rationale
  • Assess strategic fit and synergies for each target
  • Help you negotiate on the basis of key value drivers

BCG tailors your merger and acquisition strategy through an iterative, highly collaborative approach. Our mergers and acquisitions consultants serve as partners for senior management, drawing on our global network and cross-industry perspectives, supported by proprietary methodologies and digital tools.

We help you pursue buy-side mergers and acquisitions and create or enhance replicable mergers and acquisitions processes in-house.

Because BCG views value creation in mergers and acquisitions as a continuum, we’re also prepared to support you at every stage, from transaction strategy to post-merger integration. M&A target identification typically takes about 3 months and is the first step in a process that can last up to 18 months.

Our M&A transaction services combine our extensive expertise in all types of M&A-related processes, such as due diligence, with our industry-specific expertise, such as consumer M&A and health care M&A.

BCG’s Five Steps for Initiating an M&A Target Search

Successful mergers and acquisitions flow from corporate strategy. The best acquirers clearly articulate how any purchase will fit within that larger strategy while formulating a defensible rationale for the purchase that creates value.

BCG has defined five steps for M&A target identification and evaluation:

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构想概念 运用不同的视角,制定一个具有潜在吸引力的行业和细分市场的名单:考虑不同的分类方法、数据库和IP筛选,以及 气候变化国际贸易.

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对行业和细分市场初选名单进行优先排序。 初步评估结构性吸引力。生成大约 200 个候选公司。

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创建并分类短列表。制定细分市场和目标的常规排除标准。减少到 20-30 家公司。从多个角度(包括风险)进行概括和分析。检查可用性。

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提炼入围名单。 进一步评估细分市场和公司。减少至低于 10 个目标

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深入研究并购目标。 彻底探索可行性、融资、风险和其他重要方面,并为初始尽职调查做好准备。


了解我们的并购咨询团队

我们的并购顾问和行业专家在并购期间帮助客户寻找和识别目标,以及应对变革管理。

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M&A, Transactions, and PMI Services

BCG has deep expertise in a multitude of industries, with comprehensive knowledge of all aspects of M&A activity and post-merger integration, to help you realize the full value of your transaction.

了解更多并购的信息

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COVID-19’s Impact on Global M&A

M&A can play a major role in helping companies survive the crisis. Preparation, steady nerves, and a willingness to be bold are the keys to success.

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