In this second episode in a two-part series, Gerald Adolph, Senior Partner and leader of Strategy&'s mergers and restructuring group, continues his interview with J. Neely, a Partner at the firm, about new Strategy& research finding that transactions designed to enhance or leverage companies' core capabilities outperformed other deals. They explore some specific cases where capabilities took center stage, looking at companies including Danaher Corp., Li & Fung Ltd. and Walgreen Co.

Note: This podcast was originally published by Booz & Company in 2012.