The increased pace of merger and acquisition activity late in 2010, including some huge deals, suggests that 2011 will be an active year. Low interest rates, significant cash on many firms� balance sheets, and stock prices that are low enough to attract buyers but high enough to move sellers off the sidelines all reinforce that possibility. Decisions on acquisitions are always a challenge. There is extensive literature that documents the too-high percentage of failed combinations, ones that failed to reward shareholders with a positive return on their investment. Yet most firms are motivated to consider acquisitions as an element of