In an era defined by mounting financial pressure, the question is no longer if a merger or acquisition might be necessary, but what makes a deal successful. There are two essential elements every institution must understand before leaders reach out to another school. “Everyone must be on the same page and clear-eyed about the institution’s finances because this is going to take a long time to address,” she says. “The other thing is you must understand the strengths of your institution.” Colleges looking to capitalize on a merger or acquisition must find a partner that can bring unique value.