Intangible Capital in M&A

I was thrilled to see this new report by the Hay Group The Silver Bullet of Success: Winners and Losers in the M&A Game. The report is about how intangible capital is critical to the success of M&A. Below are the major points of the paper (quotes in italics) with my comments on each one:

Companies underestimate intangible capital : Executives typically value intangible capital – including culture and customer relationships – at just 30 per cent of market capitalization, not the 75 per cent that analysts expect. Read more