Blind Spots in M&A: An Essay Series

Most M&A deals don’t fail because of the numbers. They fail because of the blind spots.

There are times when culture gets bulldozed or organization structures recommended by the big firms don’t work well. Sometimes the founders or the senior management from the acquired company are pushed out too soon. Then there is attrition at the lower level sometimes considered “non-regrettable” that proves very regrettable. There are change programs that are little more than emails and training calendars.

Below are my musings on these blind spots, the ones we rarely talk about in boardrooms but that quietly decide whether an acquisition thrives or falls apart.

1.     Culture in M&A: Why Amalgamation, Not Assimilation, Is the Only Path to Value

Why forcing one culture onto another almost always fails—and how blending the best of both can unlock real value.

2.     M&A Integration: Why Organizational Design Must Be Context-Driven

Why no structure is universally “best,” and how to design around culture, size, and maturity instead of copy-pasting a template.

3.     Founder Retention Framework

A practical way to decide how long founders and senior leaders should stay—based on market, region, and technology risk.

4.     Beyond the Stars: The Hidden Cost of Talent Attrition in M&A

Why losing “invisible glue” employees hurts more than losing stars—and how to spot and retain them before they walk away.

5.     Change Management Isn’t a Buzzword—It’s the Hardest Part of the Job

Why real change isn’t a rollout, but a relationship—and why listening matters more than timelines.

If you’ve been through an integration, I’d love to hear your reflections:

·       What blind spots did you see?

·       What surprised you?

·       What do you wish someone had told you before the deal closed?

Because value in M&A isn’t captured in the spreadsheets, it’s built (or lost) in the integration.