Why Most M&A Deals Fail After They're Signed: David Fubini

David Fubini - a senior partner at McKinsey for over 34 years, Harvard Business School faculty member, board director, and author of Post Merger Integration and Hidden Truths joins Sarder TV to explain why the real work of a deal begins after the ink is dry. In this interview, David breaks down why integration not deal structuring, diligence, or financial modeling is what actually determines whether an M&A deal creates or destroys value. He shares the earliest warning signs of value destruction, why copy-paste integration playbooks fail, why hundreds of billions of dollars in synergies are lost every year, and why even trusted CEOs rarely hear the full truth from the people around them. You'll learn about: Why deal value is delivered after signing, not during negotiation The two earliest signals that an integration is already failing Why every merger needs its own integration strategy, not a standard playbook The 3 types of synergies most companies overlook (cost, revenue, and balance sheet) What disciplined integration leadership looks like in the first 100 days Why cultural fit is the most underestimated risk in any merger Why CEOs rarely hear the full truth — and what to do about it Where AI is creating bottlenecks and opportunities in consulting and leadership His #1 piece of advice for any leader stepping into a major transformation Whether you're a CEO, board member, corporate development leader, or M&A/consulting professional, this conversation offers hard-won lessons from decades of advising on some of the world's most complex transactions. 📘 Books: Post Merger Integration & Hidden Truths by David Fubini 🎓 Harvard Business School | McKinsey & Company CHAPTERS: 00:00 Introduction to David Fubini 00:36 Why integration matters more than deal structure or diligence 01:49 Early warning signs that a deal is losing value 03:37 Where companies lose the connection between strategy and execution 04:41 Why leaders should resist copy-paste integration playbooks 06:12 Why standardized models persist even though every merger is unique 07:59 The hundreds of billions lost annually to poor integration 09:53 What disciplined integration leadership looks like in the first 100 days 11:06 The most underestimated integration challenge: culture 12:46 His book Hidden Truths — why CEOs rarely hear the full truth 14:44 What leaders do differently in successful transformations 16:20 When the information gap becomes impossible to close 18:06 Building Harvard's Mastering Consulting and Advisory Skills course 19:15 Where AI is creating bottlenecks in organizations today 22:06 How AI is compressing execution timelines for leaders 24:41 What leadership development needs to look like in an AI era 26:12 His #1 piece of advice for leaders starting a major transformation 27:27 Final thoughts on the Sarder TV platform 🔔 Subscribe to Sarder TV for more conversations with authors, executives and thought leaders on leadership, M&A, and business strategy. #DavidFubini #PostMergerIntegration #MergersAndAcquisitions #SarderTV #Leadership #McKinsey"