M&A Integration - How To Do It. Planning and delivering M&A integration for business success

The flurry of M&A deals announced in 2011, including AT&T's agreement to acquire T-Mobile USA, ConAgra's proposed bid for Ralcorp, and eBay's acquisition of GSI Commerce, indicate that M&A has returned, and is perhaps headed back to the levels seen before the financial crisis.
 
Most firms of a certain size will turn to it in their search for growth, forcing almost all managers to face up to the challenge of integration at some point their career. For many managers it is often their first, and only time and M&A is high on the list of things that many managers hate. According to many studies, 50 to 75% M&A transactions turn out to be a failure. One of the main reasons for failure is late or wrong integration or bad integration management. There is a significant demand for more information on best practice in Post Merger Integration.
 
This book intends to equip those managers for the task...
 
Danny Davis demonstrates how to handle the post-merger integration process and show how to restructure, consolidate, reduce costs, create efficiencies and perform M&A, from smaller transactions to mega-mergers. The focus is on integration planning and delivery. The book combines a general/strategic view with detailed information of how to actually conduct a Post Merger Integration via very practical tools and check lists that will prove essential in delivering change before, during and after transactions as well as to ensure their success.

List of contents

PREFACE xi
 
ABOUT THE AUTHOR xv
 
INTRODUCTION xvii
 
PART I THE STRATEGIC DRIVERS 1
 
1 M&A OVERVIEW 3
 
Chapter summary 3
 
What types of M&A are there? 3
 
How much should we pay? 5
 
Most mergers fail 7
 
Dene success 10
 
The M&A process 10
 
Strategic M&A process 14
 
Strategy: linking pre-deal and post-deal strategy 15
 
2 INTEGRATION OVERVIEW 19
 
Chapter summary 19
 
Integration objective 20
 
What is integration? 21
 
Integration strategies 22
 
Reason for success 23
 
Will we succeed? 27
 
Learning from mergers 28
 
Different mergers at different stages of the company life cycle 33
 
What should we expect during the integration? 34
 
Transforming the business 36
 
3 PLANNING FOR INTEGRATION 39
 
Chapter summary 39
 
Model for integration planning 40
 
Integration checklist 44
 
What is 100 day planning? 45
 
Day 1 58
 
Information 61
 
Bringing the companies together 63
 
Planning for "the dip" in productivity and service 64
 
Review integration readiness 67
 
4 INTEGRATION DRIVERS 71
 
Chapter summary 71
 
What a re synergies? 72
 
How deep to cut 74
 
The principles of integration 75
 
Budget for integration 83
 
Integration tracking 85
 
2nd wave integration 86
 
5 INTEGRATION GOVERNANCE OR STRUCTURE 89
 
Chapter summary 89
 
Put people in place 90
 
Responsibility and accountability 93
 
Controls in place at different levels 94
 
Board tracking of integration 94
 
Agree reporting requirements 95
 
Teaching integration in our company 98
 
Integration standards, tool kits, process 99
 
Risk workshop and risk management 100
 
Track progress 104
 
6 DELIVERY - "INTEGRATION MANAGEMENT" 109
 
Chapter summary 109
 
Mobilize a merger team 110
 
Strategic delivery of integration 110
 
Roll out new procedures for managing projects 111
 
Integration Management O= ce 113
 
Integration management 115
 
Strategic plans, parallel planning process, detailed plans 120
 
PART II THE FUNCTIONS 125
 
7 FINANCE 127
 
Chapter summary 127
 
Links with other parts of the integration 128
 
Finance readiness review 130
 
Financial integration strategies 132
 
Learning points for " nance 136
 
Outsourcing 137
 
Financial basics 141
 
Financial risk management 144
 
Benchmarks, key performance indicators 144
 
What infrastructure is needed? 145
 
Finance organization - people 146
 
Processes and IT 146
 
8 IT 151
 
Chapter summary 151
 
IT perspective day 1 152
 
Assess readiness for integration 152
 
IT and integration strategy 154
 
Reasons for change in IT during a merger 156
 
Level of integration 157
 
Links with other parts of the integration 158
 
Issues during an integration 162
 
Do the basics 168
 
Integrate or consolidate systems 172
 
IT integration success 173
 
IT integration checklist 177
 
9 HUMAN RESOURCES 179
 
Chapter summary 179
 
HR for the integration (outside HR) 180
 
HR checklist 199
 
HR for the HR integration 200
 
10 COMMUNICATIONS 205
 
Chapter summary 205
 
Management communications 2

Product details

• Authors: Danny A Davis, Danny A. Davis
• Publisher: Wiley & Sons
• Languages: English
• Product format: Hardback
• Released: 07.09.2012
• EAN: 9781119944867
• ISBN: 978-1-119-94486-7
• No. of pages: 334
• Dimensions: 159 mm x 239 mm x 25 mm
• Weight: 662 g
• Subjects: Social sciences, law, business > Business > Management; Ratgeber Wirtschaft, Business & management, Wirtschaft u. Management, Business Self-Help, Wirtschaft /Ratgeber