M&A topic guide
Corporate development
Set the acquisition mandate, prioritize targets, and carry evidence from sourcing through investment approval and operating ownership.
The decision to make
Which capability should the business own, and which opportunity deserves the next commitment of time and capital?
From a business need to a target list
Begin with Acquisition Mandate & Target Screen to define the capability the business needs, compare build, buy, partner, and do-nothing alternatives, and agree the capital envelope and decision authority.
Carry the shortlist into the Acquisition Target Pipeline & Deal Funnel. Keep strategic fit, evidence quality, and the path to ownership visible as separate fields. A compelling business may have no willing seller or workable control path.
Make each commitment explicit
Every active target needs a next decision, an owner, and a date. Record why a target was passed and what evidence would justify reopening it. This keeps the pipeline useful after the people or market conditions change.
When the team seeks authority to proceed, use the M&A Investment Committee Memo: From Analysis to Approval to state the recommendation, downside, unresolved conditions, and limits of the approval.
Keep the boundary clear
The mandate establishes what the business is trying to achieve. Valuation tests supported value; strategic finance tests affordability and competing uses of capital. Reopen the mandate when those facts change the original rationale.
Transaction stages · All ten topics · Downloads
By Mike Ye · Updated September 10, 2026