M&A, corporate development & tax

The build alternative anchors your bargaining position and sanity-checks whether acquiring is genuinely faster or cheaper than building.

The 15% global minimum tax renders pre-2024 frameworks obsolete, cutting accretion 280-400bps on IP-heavy cross-border deals.

Revenue synergies are M&A's least reliable input; requiring reverse-synergy quantification exposes value leakage and prevents value-destroying overpayment.

A single shared synergy document preserves accountability, while circulated post-mortems change deal-team behavior more than any pre-deal process.

Locked-box, completion accounts, earnouts, escrows and R&W insurance each protect the right party against the right risk when correctly matched.

EBITDA-based, long-dated, vaguely governed earnouts become litigation factories and constrain the very integration the deal was meant to enable.

Independent diligence governance prevents sponsor bias; missing Q of E, red-team memo, or 100-day plan means the deal isn't ready.

The LBO floor reveals your true negotiating room and auction ceiling, while accretion tests financing feasibility and board communication.

Accretion is noise; defending dilutive value-creating deals and rejecting accretive value-destroyers is the discipline that avoids future writedowns.

Decision rights, tollgates, and synergy ownership belong in the diligence binder; only banked synergies sustained two quarters should count.

A single-page report of every entity's purpose and cost exposes dormant liabilities, Pillar Two burden, and savings often exceeding 300% ROI.

Late engagement lets insurers exclude discovered issues and forfeits negotiating leverage; brief brokers week one, bind at signing.

A thesis specific enough to reject most deals plus fifteen actionable targets makes walk-away discipline structural rather than willpower-dependent.