The first episode of the new series of Succession concludes with a fierce bidding war between Logan Roy and his three children for the acquisition of Pierce Global Media. With both parties determined not to be outbid, the valuation of the business quickly escalates, with the three siblings Shiv, Roman and Kendall Roy eventually tabling a winning offer of $10bn.
While it made for an entertaining scene, it remains rather detached from the reality of acquiring a business. We spoke to a number of M&A experts and people with experience of deal-making to determine the key things the show got wrong – and any areas it may have got things right.