CHAPTER NINETEEN
COMMUNICATING FOR A MERGER OR AN ACQUISITION
Since the 1960s, mergers and acquisitions (M&As) have been the most common growth strategy for corporations worldwide, despite research showing that the majority of M&As do not achieve their financial goals and as many as half of them are demerged in full or in part within five years of the deal's completion (Whalen, 2002). The billions of dollars invested and lost by DaimlerChrysler and AOL/Time Warner, and the thousands of employees who lost their jobs in those failed deals, should provide a cautionary tale about the risks associated with a poorly conceptualized or poorly executed merger or acquisition.
A CFO magazine survey of Forbes 500 chief financial officers ...
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