Acquisitions are not a panacea. Done right, though, they can benefit the seller, the acquirer, the employees and the customers. This means having a strategy, being thorough in your targeting, negotiations and offer and meticulously planning the post acquisition integration.
I have been through this process innumerable times as the lead in making acquisitions for Dow Chemical, Alcan, and Wheaton Industries under the umbrella of River Associates (P/E) and PNC Equity Partners.