It’s widely understood that about half of America’s marriages now end in divorce . (Actually, the divorce rate has fallen in recent years.) What’s less well-known is that, as with marriage, a roughly similar proportion of corporate mergers and acquisitions— 40 percent —also fail to fulfill the hopes of those who enter them. What’s the reason for the iffy prospects for M&A success? In a nutshell: It’s placing your trust in hope instead of doing your homework. In my experience,