Given the historically high merger and acquisition (M&A) activity in the US throughout the last few years, one might expect that business leaders have the fine art of deal-making and integrating two companies all figured out. A major challenge many companies face -- and one that can quickly sabotage a great deal -- is encountering unanticipated environmental liabilities. The risk of inheriting environmental issues such as contamination, mold, pollution and the presence of toxic chemicals can challenge even the strongest potential mergers. Today, smart companies and their risk managers are also anticipating any risks that could appear after a sale or merger is complete. Developing a strategy to plan for and manage inherited environmental liabilities is a key step in the M&A process. Choosing a risk management partner who is well-informed and stays on top of the complex, changing dynamics of the environmental risk arena is imperative to protecting important deals.