Just occasionally, Rob and Toby get into the groove and thoroughly enjoy their chosen 'topic de jour' and today was one of those events. The dynamic duo decided it was time to explore the principle of creative value during M&A.  And what do we mean by that?Well, a lot of post-deal value creation is what Rob calls the 'Bleeding Obvious' and what Toby prefers to call Combinational Synergy Value (he's always had a way with words, that lad) It's the value derived by spreadsheet jockeys mulling over the post-deal financial data. Then there's the second wave of value creation which is when the combined data points you in a particular direction.  In this scenario, Rob offers a previous experience of differing supply chain costs being the catalyst for greater value creationBUT WAIT - THERE's MORE! - Because what we are really talking about is value creation brought about by strategic vision or by seeing the unseeable opportunity that unfolds when you have insight into both of the businesses that you have just combined.So for our bottom line Rob and Toby offer the view that yes, there's a place for the Combinational Synergy Value (Bleeding Obvious) value opportunities but the REAL value potential comes from taking an engineering approach and fully understanding how the combined business works and how it delivers value. THAT is where the really exciting value creation journey can be found.