Leaving aside that contextual variations that occur with most acquisitions, there are a few logical and reasonably universal questions that need to be asked when searching for an acquisition.


1. Will an acquisition (or JV) assist us in achieveing our corporate KPOs?

2. What characteristics must the target display to best compliment our existing business and our strategy?

3. Are there targets in the market which satisfy our "ideal acquisition profile"?

4. What will it take to "buy" our ideal target? This includes: price, structure, impact on existing business (including culture, product/service mix, people, customers, suppliers, etc), impact on market, regulatory impact, impact on shareholders and stakeholders.

5. Can we afford the price (financial and other)?

6. How complex (painful) will swallowing the acquisition be and is it worth it?

7. How do we structurally acquire (purchase, JV or merger, etc)?

8. When do we acquire?

Generally, if an organisation can get the answers to these questions aligned to their shareholders' interests then the acquisition has a better chance of being successful.