Mergercast by Strategy&

In Mergercast 57 Arjun Saxena and Doug Stotz, principals with PwC US, discuss a potentially game-changing dynamic: why the bank sector needs $600 billion worth of M&A. The authors look at market forces transforming the sector, the unique challenge for smaller banks, and deal implications of new regulation.

In Mergercast 56 J.Neely, a principal with PwC US and Joerg Krings, a partner with PwC Strategy& based in Munich, discuss the growing rationale for digital deal making, why, and the M&A challenges when these companies get together.

In this two-part Mergercast series Thomas Flaherty, a principal with PwC US, discusses a popular method of value creation - divestitures. Part 1 discusses why carve-outs are growing in popularity, competitive considerations a company should address before conducting a divestiture, and how best a company can create addition by subtraction. Part 2 addresses the tricky business of execution.

Part 2 of this Mergercast series on divestitures addresses the tricky business of execution. Tom Flaherty, a principal with PwC's Strategy&, discusses common mistakes made during the actual separation, planning for the unexpected, and what considerations are needed for the entity left behind to continue successfully. Part 1 discusses why carve-outs are growing in popularity.

Leading practitioners of Strategy&, PwC's strategy consulting business, and principals with PwC US, Randy Starr and Hunter Hohlt discuss how in recent years companies across all sectors have been the target of activist investors. Citing examples in the Aerospace and Defense industry, they outline some of the business strategies employed by companies that make them particularly vulnerable, and tactics they can employ to decrease their attractiveness to activists.

In episode 52 of Strategy&'s Mergercast, Larry Jones and Joe Duerr, leading practitioners in the strategic value consulting group of the PwC U.S. deals practice, discuss how companies can best utilize their most potent weapon against shareholder activists: insider knowledge.

In episode 51 of Mergercast, principals with PwC US J Neely and John Jullens discuss the insights from Strategy&'s study "Deals That Win". Focused on the role of capabilities in M&A, the study reveals that achieving a capabilities fit in deals matters more than ever. In fact, deals that leveraged the buyer's key capabilities, or helped it acquire new ones, produced significantly better shareholder returns than the market, or deals with other rationales in mind.

In this 50th episode of our show, Strategy& Senior Partners Gerald Adolph and Tom Flaherty, Strategy& Partner J Neely and PwC Deals Partner Gregg Nahass look back at the deals environment in 2006, the year the Mergercast by Strategy& podcast was launched, and contrast it with the M&A environment as it stands today. The four panelists also explore how the deal-making process has changed over that time, the importance of capabilities in mergers and acquisitions, the return of the megadeal, and the role of velocity and impatience in transactions.

In this episode, Paul Leinwand, a Senior Partner at Strategy&, discusses the emergence of the supercompetitor, new type of company that changes the very dynamics of its business environment. He explores the role of M&A as a growth driver for these organizations, asking whether supercompetitors have a different approach to M&A than less-influential companies, to what extent they are more reliant upon M&A for growth, and how CEOs and board members should be thinking about this trend.

In this episode, Ahmad Filsoof, a Principal at Strategy& based in Chicago, describes a methodology for companies looking to divest a part of their business that centers on the capabilities that come with that asset. He explores the importance of a capabilities-centered approach and discusses in detail the five steps that comprise such a process: capability scoping, baseline analysis, option analysis, transition planning, and buyer engagement. This approach was first addressed in a recent strategy+business article.

Note: This podcast was originally published by Booz & Company in 2014.