Uncertainty is major reason of failure in M&A deals. We use lots of assumptions in valuation and synergy modelling. We should not ignore human factors in post merger integration which don’t have unique mathematical models. We can’t eliminate uncertainty, we only can reduce uncertatities and shift consequences from fatal errors to correctable errors. We should have solutions for all probable cases based on probability of occurrences
I agree – normally, companies can’t really do the due diligence by themselves. One of the “consultants” they can hire are the investment banks that can coordinate the due diligence with the lawyers, accountants etc.