Final answer:
The statement is false. Cultural issues are essential in mergers and acquisitions because they impact employee cooperation and the integration process, potentially leading to failures if overlooked.
Step-by-step explanation:
The statement "Cultural issues have little to do with the failure of mergers and acquisitions as technical and financial issues are all that matter." is false. Cultural differences can significantly impact the success of mergers and acquisitions. When organizations merge, they bring together different corporate cultures, values, and practices. These cultural aspects can lead to misunderstandings, conflicts, and a mismatch of expectations among the employees and management from the merging entities. Such issues can undermine cooperation and the integration process, leading to a failure to realize the synergies and benefits expected from the merger or acquisition. Therefore, it is essential to consider cultural compatibility alongside technical and financial due diligence during mergers and acquisitions.