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Acknowledgments
This report was prepared by Andrei Vorobyov, a leader with Bain & Company’s M&A and Divestitures
practice; David Harding, an advisory partner at Bain; a team led by Shikha Dassié, practice senior
manager with the M&A and Divestitures practice; and an editorial team led by David Diamond.
The chapters of this report were written by Bain Partners Joost Spits, Mike Kühnel, Jim Wininger, Jorge
Rujana, Peter Horsley, Allison Snider, Maria Kurenova, Adam Haller, Jeff Haxer, Ben Siegal, Kai Grass,
Vincent Vandierendonck, Yael Mohan, Dan Haas, Pierre de Raismes, Roberto Frazzita, Simon Porter,
Henrik Naujoks, David Gunn, Glen Williams, Antonio Rodrigues, Matthias Memminger, Thomas
Olsen, John Fildes, Daniel Hong, Andre James, Laurent Colombani, Alex Dahlke, Herbert Blum,
Andrew Rodd, Phil Leung, Hyukjin Lee, and Takashi Ohara.
The authors wish to thank the following colleagues for their help with this report: Les Baird, Peter
Horsley, Phil Leung, and Collen von Eckartsberg, global and regional leaders with the M&A practice;
Johanne Dessard and Suzanne Kumar, practice vice presidents; Anna Nowak, practice senior analyst;
Anuj Agarwal, senior manager; Charlotte Birkenhager, Joram Kok, Bjorn von Dongen, and Hakan
Yilmaz, consultants; Ayush Agarwal and Sidhant Jain, BCN managers; and Mateusz Firlej, information
services specialist.
