How boards can improve the odds of M&A success

The four‐part framework described by the authors can help boards of directors to better focus their time and energy to provide substantial value to the M&A process. High standards for value creation; grounded, quantified strategic benefits; an integration focus on high‐value opportunities with clear accountability for delivering them; and a common management model are the key determinants of a successful deal. This framework can help boards add value to the M&A process. Moreover, it can help top executives to be more effective in evaluating and managing deals and more efficient in interacting with their boards.