We have all seen or heard of high-profile cases where M&A deals didn’t work out. AOL–Time Warner, HP-Compaq, Quaker-Snapple — these are just some of the big ones. An analysis of 2,500 such deals by our firm shows that more than 60% of them destroy shareholder value. Perhaps such deals should come with an official warning: “Acquisitions can result in serious damage to your corporate health, up to and including death.”