Mergercast by Strategy&

In this episode, John Corrigan, a Partner at Strategy&, discusses the coming consolidation in the oil industry he sees on the horizon, prompted by recent deals such as Energy Transfer's $5.3 billion acquisition of Sunoco. He addresses a number of topics including the extent to which weakness in natural gas prices will drive industry mergers, over what time frame we'll see the rush to buy oil assets, and some ideas on likely targets in this consolidation. Note: This podcast was originally published by Booz & Company in 2012.

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.

In this first episode in a two-part series, Gerald Adolph, Senior Partner and leader of Strategy&'s mergers and restructuring group, interviews 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. The premium was on average 12 percentage points in terms of shareholder return. These findings are also the focus of a recent strategy+business magazine article. Note: This podcast was originally published by Booz & Company in 2012.

In this episode, J. Neely, a Partner at Strategy&, examines the renewed interest in spinoffs seen in 2011, when a number of major companies announced plans to slim down their organizations. He explores a number of topics including whether the spinoff trend will continue into 2012, strategies behind major 2011 spinoffs including Kraft and Sara Lee, other spinoff transactions of note such as Fortune Brands and McGraw Hill, and whether this spinoff trend suggests a move away from mergers and toward corporate shrinkage and pure-play competitors. Note: This podcast was originally published by Booz & Company in 2011.

In this episode, Gerald Adoph, Senior Partner and leader of Strategy&'s mergers and restructuring Group, interviews Kelley Mavros, a Strategy& Partner based in Chicago, on the topic of lean. The two discuss a client engagement in which lean was used in the post-merger integration of two global financial services operations. This is one of the first times lean has been used this way in the financial services industry. Note: This podcast was originally published by Booz & Company in 2011.

In this episode, J. Neely, a Partner at Strategy&, explores the private equity industry in light of Carlyle Group's recent IPO announcement. He discusses a number of topics including whether the Carlyle announcement is indicative of any kind of fundamental change in the private equity industry, major challenges faced by private equity firms today, and what may be in store as a next act for private equity. His discussion is based in part on the recent strategy+business article "The next winning move in private equity," which he co-authored with Strategy& Senior Partner Ken Favaro. Note: This podcast was originally published by Booz & Company in 2011.

In this final episode of our 3-part series, J. Neely, a Partner at Strategy&, builds on the concept that coherence is the new scale in M&A by exploring transactions where this was achieved. He analyzes four specific consumer products deals driven by the concept of coherence, including well-known transactions such as Wrigley/Mars, to understand how each was successful and what lessons they might provide for the future. Note: This podcast was originally published by Booz & Company in 2010.

In this episode, Paul Leinwand, a Strategy& Senior Partner and author, interviews Gerry Adolph, Senior Partner and leader of the firm's mergers and restructuring group, about the value of taking a capabilities driven approach to the M&A space. Leinwand is co-author of the book The essential advantage: How to win with a capabilities-driven strategy. The two take on a number of important topics, including the popular concept of mergers driven by the idea of becoming too big to fail. Note: This podcast was originally published by Booz & Company in 2010.

In this second episode of a 3-part series, J. Neely, a Partner at Strategy&, discusses the trap of thinking that scale alone guarantees success in the consumer goods space. He explores topics including the idea that coherence is really the new scale in consumer goods, how companies are competing around capabilities today, and the extent to which organizations are gravitating away from scale alone in selecting M&A targets. Note: This podcast was originally published by Booz & Company in 2010.

In this first episode of a three part series, J. Neely, a Partner at Strategy&, explores the importance of developing coherence-driven M&A strategies, beginning with how coherence creates better performing organizations. He addresses topics including: what companies must do to develop a coherent approach to their portfolios, how transactions can further a coherence strategy, and exactly how companies should design or tune their M&A efforts to maximize coherence. Note: This podcast was originally published by Booz & Company in 2010.