Despite fleeing from risky activities and scrambling for cash, banks have maintained high level of M&A activity throughout the latest financial crisis. Low prices may explain in part the appetite for acquisitions, but the outcome of these deals remains highly uncertain and success relies on an...

Successful acquirers plan PMI prior to closing, conducting due diligence on the many elements that must be combined, adopted, changed or eliminated as part of the post-merger value-capture activities. Integration due diligence includes strategy, architecture, plumbing-and-wiring, and culture....