Deals often come up short on delivering anticipated revenues, expected cost savings and successful integration of information technology. Then why is it that the pace of M&A is accelerating? And even more intriguing, why are there more cross-border acquisitions—seemingly more difficult to execute—taking place?

Global management consulting and technology services company Accenture released the findings of a survey of more than 400 U.S. and European corporate executives regarding M&A activity. Of those executives who have been involved in a recent transaction, 58 percent said their company's latest acquisition was a cross-border deal.

The study stated that "over 70% of senior executives believe identifying and executing on cross-border M&A opportunities is more difficult than it is for domestic transactions." Still, hope springs eternal. As Art Bert, a senior executive in Accenture's strategy practice, puts it: "What makes M&A so alluring is the less common, successfully executed deal that allows an acquirer to create shareholder value far beyond what its peers and competitors can achieve. This is why we see most high-performing companies undertaking a disproportionate number of deals relative to their industry peers." — Baz Hiralal

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