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# Reply To: Vertical or horizontal?

#116620

Thomas Teltscher
Participant

It’s an interesting question. I am not sure whether there is a generally valid answer. I would tend to believe that horizontal integrations are easier as the acquirer is already familiar with the industry, whereas vertical M&A requires good knowledge of the relevant market. The lessons that can be learned, however, may be more interesting in vertical acquisitions, as new industry know-how is being acquired.