M&A cycles ‘tend to last five to seven years, and we are two years into it’.
(Evercore Partners’ Roger Altman, anticipating on May 6 2011 that transaction volume in the newest merger boom will exceed levels of prior cycles (such as the 2002–8 cycle), with $4.5-plus trillion in annualized deals as early as 2013; Bloomberg).1
1.1 Business-merger waves: patterns, theories on causes, issues
1.2 Four post-1980 business-merger waves, four phases
1.3 The fourth (and final?) post-1980 wave is already underway
1.4 Merger wave issue I: (T)APP-synergy divergence as the wave progresses
1.5 Merger wave issue II: whipsaw-merger market entry and exit missteps
Most mergers still fail,2 based ...