In this episode, Paul Leinwand, a Strategy& Senior Partner and author, interviews Gerry Adolph, Senior Partner and leader of the firm's mergers and restructuring group, about the value of taking a capabilities driven approach to the M&A space. Leinwand is co-author of the book The essential advantage: How to win with a capabilities-driven strategy. The two take on a number of important topics, including the popular concept of mergers driven by the idea of becoming too big to fail. Note: This podcast was originally published by Booz & Company in 2010.