You are previewing A Comprehensive Guide to Mergers & Acquisitions: Managing the Critical Success Factors Across Every Stage of the M&A Process.
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A Comprehensive Guide to Mergers & Acquisitions: Managing the Critical Success Factors Across Every Stage of the M&A Process

Book Description

Leverage today's most complete and practical framework for driving superior business value from mergers and acquisitions -- both domestic and international. A Comprehensive Guide to Mergers and Acquisitions Management focuses on critical success factors across every stage of the process, including planning, screening, negotiation, due diligence, transition management structures, post-merger integration, leadership and trust, cultural integration, HR practices, control, monitoring, and more. Authored by Yaakov Weber, an international expert in M&A management, strategic alliances, and strategic management, this book's uniquely interdisciplinary approach fully addresses both operational and cultural requirements, supporting participants in every role. Replete with recent examples and cases, it pays special attention to crucial strategic and behavioral linkages between pre- and post-merger stages, explaining why they are so important and how they can be managed to create maximum value. Throughout, Weber provides practical tools, tables, and figures that can help M&A implementers ensure best performance and achieve success where others have failed. As just one example, he provides proven instruments for analyzing cultural differences and the potential for synergy, and translating that potential into reality. For multiple audiences, including board members and top executives who must evaluate the strategic and financial issues associated with M&A; investment bankers, VCs, and other investors who must screen and select acquisitions; managers who must execute business combinations; consultants in strategy, HR, culture, and other areas; and faculty and students in executive education, MBA, and BA-level business programs.

Table of Contents

  1. About This eBook
  2. Title Page
  3. Copyright Page
  4. Dedication Page
  5. Contents
  6. About the Authors
  7. Preface
    1. References
  8. Part I: Value Creation Model for Mergers and Acquisitions
    1. 1. The M&A Paradox: Factors of Success and Failure in Mergers and Acquisitions
      1. Finance and the Capital Market
      2. Strategic Management
      3. Organizational Behavior
      4. References
    2. 2. An Integrated Model for Value Creation in Mergers and Acquisitions
      1. Overview
      2. Different Disciplines, Different Stages, No Interrelationships
      3. An Integrated Model for Value Creation in M&A
      4. Stage I: Planning and Strategic Management
      5. Stage II: Negotiation, Due Diligence, and Agreement
      6. Stage III: Integrating the Organizations
      7. Conclusion
      8. References
    3. 3. Strategic Motives and Considerations
      1. Introduction
      2. Strategic Motives for an M&A
      3. The Strategic Management of M&As as Part of Corporate and Competitive Strategies
      4. References
    4. 4. M&A Strategic Decisions
      1. Decision 1: Should the M&A be Part of the Current Strategy?
      2. Decision 2: Choice of the Appropriate Partner for the M&A: Strategic Fit and Post-Merger Integration (PMI)
      3. Entering into a New Industry
      4. Reference
  9. Part II: Analysis Tools for Key Success Factors
    1. 5. Synergy Potential and Realization
      1. Introduction
      2. Sources of Synergies
      3. Knowledge, Skills, and Capabilities Transfer
      4. Knowledge Transfer of General Management Skills and Capabilities
      5. Analysis of Synergy Potential
      6. References
    2. 6. Culture and Cultural Differences Analysis
      1. Introduction
      2. The Importance and Advantages of Evaluation and Measurement of Differences of Management Culture
      3. What Is Organizational Culture?
      4. Dimensions of Organizational Culture
      5. Using Cultural Differences Analysis in All M&A Stages
      6. Conclusion
      7. References
    3. 7. Searching, Screening, and Selection of M&A Alternatives
      1. The Process of Search and Identification
      2. Determination of Criteria for the Search and Screening
      3. Approaching the Target Company
      4. References
  10. Part III: Negotiation
    1. 8. Selection of Target and Negotiation Process
      1. Choice of Partner
      2. References
    2. 9. Extended Due Diligence Examination and Summative Evaluation for M&As
      1. The Process and Goals of Due Diligence
      2. Extension of the Due Diligence Examination
      3. Legal Topics
      4. Business and Operational Topics
      5. Due Diligence Examination of Organizational Culture
      6. Evaluations Regarding Synergy Potential and Realization
    3. 10. Agreements
      1. Letter of Intention (LOI) or Memorandum of Understanding (MOU)
      2. The Acquisition Agreement
  11. Part IV: Post-Merger Integration and Implementation
    1. 11. Management of Culture Clash
      1. Culture Clash Evolution and Stages
      2. Managing the Culture Clash
      3. References
    2. 12. Communication
      1. Introduction
      2. Communications with All Stakeholders
      3. Managing Communication
      4. References
    3. 13. Integration Approaches
      1. Introduction
      2. Integration and Culture Clash
      3. Trade-Off Between Integration and Synergy Exploitation
      4. A Framework for Integration Approach Choice
      5. References
    4. 14. Human Capital Issues and Practices
      1. The Human Factor
      2. The Effects of Cultural Differences and Level of Integration on Behavior in an M&A
      3. HR Issues, Implications, and Actions at M&A Stages
      4. HR Practices
      5. Training
      6. References
    5. 15. M&A Leadership
      1. Introduction
      2. Leadership Challenges During an M&A
      3. The Roles and Skills of Leadership in an M&A
      4. References
    6. 16. Trust Formation and Change in M&A
      1. Introduction
      2. Trust in the M&A
      3. Process Dynamic and Learning
      4. Consequences of the M&A and Trust
      5. References
  12. Index
  13. Financial Times Press