M&A Advisers Should be Local to Reduce Transaction Failures

When CEOs and boards begin to look for an M&A adviser, they often start in one of the big financial centers, like New York or Boston. It’s a natural mistake – and one that’s often expensive and regularly fatal.

One of the dirty secrets of the M&A adviser business is that many M&A transactions fail to complete. It’s impossible to find statistics on this. Every M&A advisory firm keeps their failure rate a closely guarded secret – many probably don’t even calculate failure rates.

For over a...