Mergers and acquisitions continue to be a mainstay of global business strategies. Corporations and their stakeholders, and the economy overall, can reap significant benefits—as long as attention is paid to all the vital elements that make these transactions successful. It can be challenging, but it can be done.

With more than two decades of experience practicing and leading M&A at Deloitte Consulting LLP, advising on both public and private global transactions, I know the breadth of work required to envision, execute, and implement a successful merger or acquisition. While many transactions might look good on paper, it’s the combination of strategy and delivering results that lead to success. M&A involves substantial risk, so understanding all the moving parts from the beginning and getting them right requires capable leadership and strong executional ability.

There are many lessons for successful M&A, but virtually all of them revolve around trust. That’s easy to say but hard to earn. Combining two entities to create something better is hard. It takes accountability, responsibility, commitment, and clarity. Embarking on a major transaction means inspiring and building trust with your board, your investors, your employees on both sides, your customers, and other crucial stakeholders that will be vital for your success.

I’ve known Mark Sirower and Jeff Weirens for more than 20 years and worked closely with both of them while I oversaw Deloitte LLP’s Consulting practice. They are truly two of the leading minds on M&A and have advised on and assisted Deloitte clients through many hundreds of transactions across the M&A life cycle.

That’s what makes The Synergy Solution such an important book. As Sirower and Weirens describe, M&A is a process—a “cascade,” as they call it—and one that starts long before a deal as leaders refresh the vision of the future for their company. CEOs and their executive teams need to keep abreast of the changes and opportunities that exist in their markets and think of M&A not just as doing a deal but as a connected chain of actions that have to be led and managed in order to realize that vision for success. The ambitious scope of this book, and the detailed advice throughout, make it an illuminating read for all acquirers, regardless of their experience.

The authors ask a lot from leaders who are considering M&A. Do you understand the risks of what can go wrong, and the potential rewards if you get it right? What is your long-term M&A strategy, and have you done all the homework required to test your ideas before you value a target? What is your Day 1 plan for communicating to stakeholders why a transaction makes strategic and financial sense when you announce the deal to the public? Is your organization prepared for all the challenges ahead before and after the deal closes? How do you best anticipate the needs of your employees and customers and the uncertainty that lies ahead for them? The Synergy Solution answers all of these questions and many more.

This book is the definitive M&A text that every C-suite leader—and everyone who aspires to the C-suite—needs right now. Whether it’s a traditional merger or acquisition to expand your markets and achieve efficiencies or you’re filling capability gaps in what you need to compete and delight your customers, this book will help you get the right deals done—and vastly increase your chances for success. From strategy to valuation to integration to achieving an issue-free Day 1 and beyond, The Synergy Solution covers everything business leaders need to understand about what a strategic move might mean for their organization and how to prepare and execute on it successfully—as well as build trust in the process.

The Synergy Solution offers timeless insights about the mechanics of success throughout the M&A process. It is the most comprehensive, practical, and hands-on guide ever written for M&A deals. The best organizations care about culture, purpose, the future of their workforce, and the common good, but, ultimately, they have to take care of their customers and deliver results. All these factors are critical to a successful M&A deal—making this kind of work that much more complex, but also that much more meaningful.

Whether it’s your first deal or your hundredth, the principles outlined in The Synergy Solution will help you to achieve greater clarity and focus around intent. As a result, you will be better positioned to emerge from the integration process with a high-performing, sustainable culture and employees who are committed to its growth and success for years to come.

Punit Renjen
CEO, Deloitte Global