波士顿：2018年并购报告( 英文 33 页)

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Synergies Take Center Stage

CONTENTS

3 EXECUTIVE SUMMARY

7 DEALMAKERS KEEP CALM AND CARRY ON

Above-Average Deal Value in Early 2018

Four Major Trends

15 LOFTY VALUATIONS MOVE SYNERGIES TO CENTER STAGE

Buyers Boost Synergy Estimates

Synergy Potential Varies by Deal Type and Sector

Markets Reward Synergy Announcements

The New Normal in Splitting Synergies: Buyers Get Less

20 ELEVATING SYNERGIES ON THE BOARD AGENDA

Do Estimates Pass the Plausibility Test?

How Can We Achieve the Full Potential?

What Should We Communicate to Investors?

25 APPENDIX I: METHODOLOGY

26 APPENDIX II: SELECTED TRANSACTIONS, 2018, 2017,AND 2016

28 FOR FURTHER READING

29 NOTE TO THE READER