"half of all mergers destroy value" I keep hearing this and it is from a widely misunderstood study. It did not find that half of all mergers destroyed value,

"half of all mergers destroy value" I keep hearing this and it is from a widely misunderstood study. It did not find that half of all mergers destroyed value, instead, it found that only half of mergers created value. The proportion of mergers that destroyed value was much smaller (about 20% iirc). Unfortunately, most people did not bother looking beyond the headline and extrapolated incorrectly.