What to Expect As Deal Makers Revise Strategies

January 14 - WSJ - What separates a good year in mergers-and-acquisitions from a bad one? By the Pavlovian measure of Wall Street, it is simple: The more deals, the better the year. But 2007 revealed the fallacy of this approach. Buyers gorged on cheap credit, overpaying along the way. Some raced to rip up transactions signed months earlier. More deals, more problems.

In this piece, the second annual M&A Buyer's Guide, it is worth remembering the distinctions between the Street and the rest of us. Here are four major themes for the year ahead, all of which show that a good year or bad... Read More (subscription required).