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The Complete Guide to Mergers and Acquisitions: Process Tools to Support M Integration at Every Level, 3rd Edition

Book Description

Ease the M&A process with a more effective integration plan

The Complete Guide to Mergers and Acquisitions is the ultimate handbook for planning and managing post-merger integration. Packed full of "how to" guidance, tools, templates and resources that have been put to the test on numerous due diligence and integration efforts around the world, The Complete Guide to Mergers and Acquisitions has been the go-to guide for firms seeking to maximize the value of their deals since the release of the first edition in 1999.

Poor integration management virtually ensures that a merger or acquisition will fail to meet financial and strategic goals. The Complete Guide to Mergers and Acquisitions provides the information that enables firms to quickly and prudently capture projected cost and revenue synergies, and to move the combined organization forward. The book addresses strategic deal considerations, due diligence, integration management, people dynamics and cultural integration, common integration mistakes, communications strategies, and provides actionable steps toward creating measurable, positive results throughout the integration process. The updated third edition contains new information and tools to help firms in any industry manage deals of all sizes, including:

  • Results of The State of M&A Integration Effectiveness Survey, 2014

  • A new chapter on the M&A process deal stages, with an expanded Deal Flow Model

  • Findings of substantial M&A research from various studies in multiple industries and organizations, supporting the concepts presented throughout the book

  • New and revised tools and templates for due diligence, integration, and results measurement and reporting

  • New case examples of recent transactions

  • Highlighted 'Key Principles' throughout each chapter

  • A summary of key points at the end of each chapter

  • Discussion questions addressing the key themes of each chapter

  • A 'rapid assessment' diagnostic regarding the key elements of each chapter, which can be completed for any organization

  • A revised chapter on taking your M&A game to the next level - essential requirements for building M&A capabilities into a consistently successful enterprise competency

  • Merger and acquisition activity across the globe continues to grow, and is also playing a major role in the development of expanding markets. A well-managed integration effort is essential to success, and failure means a tremendous waste in terms of time and money, as well as the rapid destruction of shareholder value. The Complete Guide to Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level, Third Edition is an invaluable resource to guide firms in managing M&A integration and maximize the value of their deals.

    Table of Contents

    1. Title Page
    2. Copyright
    3. Dedication
    4. List of Exhibits
    5. Foreword: Building M&A Integration Capabilities as a Competitive Advantage
      1. M&A As an End-to-End Business Process
      2. Pre-programming Integration Success Prior to the Initial Public Announcement
      3. Enterprise M&A Competency as an Important Competitive Advantage
    6. Preface
      1. This Book's Purpose and Audience
      2. Overview of the Contents
      3. Acknowledgments
    7. The Authors
    8. Chapter One: Integration: Where Deal Value Is Realized
      1. Buyer Beware!
      2. Factors Contributing to Poor M&A Results
      3. Deal Strategy—Then and Now
      4. Strategic Deal Rationale: The Eight Cs
      5. Serial Acquisitions as a Growth Strategy
      6. Integrations Exist on a Continuum
      7. Ten Key Recommendations for Maximizing Deal Value
      8. Develop a Sustained M&A Capability
      9. Be Sure to Avoid the Killer Phrases
      10. Chapter Summary
      11. Discussion Questions
      12. Rapid Assessment Tool
    9. Chapter Two: The Deal Flow Model: Pitfalls and Best Practices Throughout the M&A Process
      1. The Deal Flow Model
      2. Chapter Summary
      3. Discussion Questions
      4. Rapid Assessment Tool
    10. Chapter Three: Integration Begins with Due Diligence
      1. Due Diligence Should Prevent Surprises
      2. Due Diligence Is an Iterative Process
      3. Managing Due Diligence as a Rapid Results Project
      4. Target or Partner Firm Participation in Due Diligence
      5. Prioritize Synergies According to Their Impacts on Deal Value
      6. Due Diligence and Integration Strategy
      7. Due Diligence and Integration Risk Factors
      8. Due Diligence and Organizational Culture
      9. Due Diligence and Human Resources
      10. Due Diligence and Human Capital
      11. Chapter Summary
      12. Discussion Questions
      13. Rapid Assessment Tool
    11. Chapter Four: Welcome to the Big Leagues of Change Management
      1. Organizational Dynamics Created by Mergers and Acquisitions
      2. Seven Fundamentals of M&A Change Management
      3. Chapter Summary
      4. Discussion Questions
      5. Rapid Assessment Tool
    12. Chapter Five: The Merger Integration Work Streams Model
      1. The Merger Integration Work Streams Model
      2. Deploying the Model
      3. Chapter Summary
      4. Discussion Questions
      5. Rapid Assessment Tool
    13. Chapter Six: Organizing, Involving, and Coordinating Integration Task Forces
      1. Establishing the Integration Infrastructure
      2. Staffing the Integration Project Team
      3. Launching the Planning Process
      4. Chapter Summary
      5. Discussion Questions
      6. Rapid Assessment Tool
    14. Chapter Seven: Waging the Communications Campaign
      1. Great Ideas and Game Winners
      2. M&A Communications: Lessons Learned
      3. Chapter Summary
      4. Discussion Questions
      5. Rapid Assessment Tool
    15. Chapter Eight: Don't Let Them Jump Ship: Retaining and Rerecruiting Your Key People
      1. “Me” Issues Dominate
      2. Examples of Effective Retention and Rerecruitment
      3. Identifying Key Talent
      4. Understanding What Motivates People
      5. Developing and Executing a Retention and Rerecruitment Action Plan
      6. Retention and Rerecruitment Options and Considerations
      7. Chapter Summary
      8. Discussion Questions
      9. Rapid Assessment Tool
    16. Chapter Nine: Setting the Organization Cures Many Ills: Structure and Staffing Decisions
      1. Common Problems
      2. Ten Principles
      3. Fair Processes
      4. Staffing Process Models
      5. Chapter Summary
      6. Discussion Questions
      7. Rapid Assessment Tool
    17. Chapter Ten: Tracking Success: Merger Measurement Systems
      1. Integration Measures
      2. Chapter Summary
      3. Discussion Questions
      4. Rapid Assessment Tool
    18. Chapter Eleven: “But They're So Different”: Cultural Integration
      1. The Impact of Culture on NewCo Performance
      2. Operationalizing and Managing Cultural Integration
      3. Discovering, Designing, and Delivering Cultural Integration
      4. Answering Key Questions
      5. Sticking to the Cultural Integration Implementation Plan
      6. Continuously Manage NewCo Culture
      7. Chapter Summary
      8. Discussion Questions
      9. Rapid Assessment Tool
    19. Chapter Twelve: Human Capital Integration and the Human Resources Function
      1. The “Making Strategy Work” Model
      2. Case Studies in Human Capital–Related Integration
      3. Chapter Summary
      4. Discussion Questions
      5. Rapid Assessment Tool
    20. Chapter Thirteen: Merger Repair
      1. Clear Symptoms
      2. Merger Repair Rapid Assessment
      3. Two Tracks of Merger Repair
      4. Chapter Summary
      5. Discussion Questions
      6. Rapid Assessment Tool
    21. Chapter Fourteen: Taking Your M&A Game to the Next Level
      1. Are You Getting Better at M&A?
      2. Failing to Protect Your Investment
      3. Beware the “Not Invented Here” Syndrome
      4. Don't Fumble at the Goal Line
      5. Enterprise-Level M&A Competency Model
      6. How Does Your Integration Stack Up?
      7. Does It Work?
      8. Chapter Summary
      9. Discussion Questions
      10. Rapid Assessment Tool
    22. Resource A: Sample Task Force Charter*
      1. I. Team Members
      2. II. Synergy Targets
      3. III. Deliverables
      4. IV. As-Is Analysis
      5. V. Initial Identification of Issues
      6. VI. Task Force Logistics and Communications
      7. VII. Links to Other Task Forces
    23. Resource B: Integration Planning Template*
      1. An Outline for Task Force Initial Transition Plans
      2. I. Overall Work Flow and Key Operating Rules
      3. II. Synergies—“Quick Hits and Low-Hanging Fruit”
      4. III. Initial Systems and Facilities Requirements
      5. IV. Transition Cost Estimate
      6. V. Transition Timeline
      7. VI. Issues and Recommendations for the Executive Staff's Attention
    24. Resource C: Executive Summary—The State of M&A Integration Effectiveness Survey, 2014
      1. Overview
      2. Respondent Demographic Data
      3. Are Acquirers Getting Better at M&A Integration?
      4. Seven Essential M&A Integration Improvements Every Serious Acquirer Must Address
      5. Summary Results
    25. References
    26. More From Wiley
    27. Index
    28. End User License Agreement