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These are important things for our society, but they were all done by retail bankers and brokers, not by investment bankers, hedge funds, PE firms, etc. Investm

• Dilpil 18y ago
  In making such massively outlandish claims, data is required.
  • apsec112 18y ago
    "The survey found that 82% of respondents believed the major deal they had been involved in had been a success. However, this was a subjective estimation of their success in achieving the deal objectives (see figure 2, on page 8), and less than half had carried out a formal review process. When we measured each one against our independent benchmark, based on comparative share performance one year after deal completion, the result was almost a mirror opposite. We found that only 17% of deals had added value to the combined company, 30% produced no discernible difference, and as many as 53% actually destroyed value. In other words, 83% of mergers were unsuccessful in producing any business benefit as regards shareholder value." - http://www.imaa-institute.org/docs/m&a/kpmg_01_Unlocking%20Shareholder%20Value%20-%20The%20Keys%20to%20Success.pdf http://www.imaa-institute.org/docs/m&a/kpmg_01_Unlocking...
    • byrneseyeview 18y ago
      Lose money != destroy value. If you bought something that earned $1 million/year, and the next year it earned $900K, your acquisition may have destroyed $100K in value -- but it's still making nine times that.
      • apsec112 18y ago
        I said that the acquisition loses money, not the company itself. In your example, the acquisition loses $100K, even though the company still makes $900K.