The goal of any merger or acquisition is to maximize synergies to ensure that the deal lives up to its predicted value. While deal-making is very difficult, integration is even harder. Successful merger integrations is a balancing act that requires intense attention to clients, employees, management and shareholders in order to fully capture the value of the deal. Conversely, divestitures can be just as complicated. They require the same degree, if not more, of transaction detail to insure success with liquidations. carve-outs, spin-offs, exchanges, tracking stocks and split-offs.