A new report by KPMG reveals that mergers and acquisitions (M&As) in the communication and non-essential consumer goods sectors are most likely to boost shareholder value.

• KPMG's report, The M&A Dance, analyzed over 3,000 public-to-public M&A deals valued above $100 million (Sh13 billion) between January 2012 and December 2022.
• The study found that 57.2% of acquirers ultimately destroyed shareholder value, despite many deals showing an average 13.2% total shareholder return in the months leading to closing.
• Deals where the period between announcement and closing is shorter tend to lead to shareholder value not holding long, while M&As in healthcare and energy sectors are challenging for value creation due to inherent complexities.