Your roadmap to success in the world of postmerger integration
Nearly half of today's executives attribute M&A failure to poor integration between merging businesses. This thoroughly revised edition of The Art of M&A Integration provides you with updated facts on integration of compensation plans, new FASB and GAAP accounting rules, strategies for merging IT systems and processes, and more.
When companies merge it is usually with the expectation that, in the end, the whole will be greater than the sum of its parts. Unfortunately as evidenced by the AOL Time Warner merger, one plus one all too often moves shareholder returns to the wrong size of zero. The reason for failed M&As most commonly cited by the experts? Poor post-merger integration.
Since 1997, the number-one resource for professionals in search of practical solutions to the thousand-and-one integration issues that can make or break a merger has been The Art of M&A Integration.
How can we avoid losing key employees? Which financial statements may be consolidated following a merger or acquisition? How can we preserve brand identity during the integration process? What's the best way to merge management structures? What are the biggest challenges to IT integration? How can we retain loyal customers following a merger?
Like its acclaimed predecessor, this second edition of Alexandra Reed Lajoux's classic guide provides complete, straightforward answers to these and every other common post-merger integration question. Based on extensive interviews with fifty of today's top experts, it advises you on how, and just as importantly, when to manage every contingency. It shows you how to develop a detailed post-merger integration plan, and arms you with checklists, calendars, flow charts, and other valuable tools to help smooth the transition. It also supplies you with an array of sample documents, including accounting forms, contracts, financial statements, legal agreements, and more. And, with the help of fascinating case studies of recent M&As--including Cingular-AT&T, Oracle-PeopleSoft, Nextel-Sprint, and Gillette-Procter & Gamble, to name just a few--it provides an unparalleled look inside some of the most notable successes and failures across industry sectors.
Thoroughly updated and revised, The Art of M&A Integration, Second Edition, features up-to-the-minute coverage of a variety of topics that have taken center stage over the past several years, including:
From combining service operations to valuing trade secrets to merging pay systems, The Art of M&A Integration, Second Edition, supplies the expert insight, analysis, strategies and tools you need to successfully manage every aspect of a post-merger integration.
Execute a successful M&A integration with proven techniques from this completely revised classic
Culture clashes, misaligned information systems, customer defections, supply redundancies, conflicting management structures . . . these are just a few of the myriad corporate integration challenges that can scuttle even the most promising merger or acquisition. Your best defense against having your best-laid plans go up in smoke due to poor post-merger integration is The Art of M&A Integration, Second Edition.
Based on interviews with fifty leading experts, it provides the insights, strategies and tools needed to successfully manage every facet of a post-merger integration. In a convenient Q&A format, this fully-updated edition of Alexandra Lajoux's classic arms you with:
From reviews of the first edition:
“An indispensable guide for the greenest rookie and the most senior deal maker on the most critical part of putting two companies together. Covers every integration issue that needs attention.”
--Michael L. Davis, Vice President, Human Resources, General Mills
“Alex Lajoux travels beneath the surface to examine the true challenges and opportunities inherent in M&A integration. She provides great insight into the ethical and relationship issues and shows readers how to assess the post-merger environment and make informed decisions throughout the process.”
--Susan B. Lione, Vice President, Knowledge Assessment, The Institute of Internal Auditors
“Not only is this work an excellent overview of the complex myriad of issues arising out of corporate mergers, but it is also a superb summary of the major trends now impacting modern corporate governance.”
--Professor Charles M. Elson, University of Delaware
Alexandra Reed Lajoux is chief knowledge officer of the National Association of Corporate Directors. She was the editor of Director's Monthly, Mergers & Acquisitions magazine, Export Today, and Export Monthly, and she coauthored (with Stanley Foster Reed) the seminal book, The Art of M&A.
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Most Helpful Customer Reviews
6 of 7 people found the following review helpful:
5.0 out of 5 stars
Comprehensive,
By American Patriot (Washington DC) - See all my reviews
This review is from: The Art of M&A Integration 2nd Ed: A Guide to Merging Resources, Processes,and Responsibilties (Hardcover)
It is well known that many mergers, while looking great on paper, lose value because of problems related to integration. This book is full of useful checklists, tools, and templates which can improve the chances of success for any merger.
1 of 1 people found the following review helpful:
3.0 out of 5 stars
Nice synopsis of M&A transactions,
This review is from: The Art of M&A Integration 2nd Ed: A Guide to Merging Resources, Processes,and Responsibilties (Hardcover)
The book is written in a Q&A format. At times the flow of the M&A transaction path is lost in the long list of examples. Since M&A is a challenging subject, it seemed that the text did a nice job of showing the reader what barriers to be prepared for. Subsequent editions are more detailed and perhaps better for the beginner that wants to know: how, when and why M&A happens.
3.0 out of 5 stars
Good for beginers,
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This review is from: The Art of M&A Integration 2nd Ed: A Guide to Merging Resources, Processes,and Responsibilties (Hardcover)
The book is basically a list of FAQs about Merger Integration process. There are chapters dedicated to HR, Sales, IT, Management Systems etc. with the questions reminding the reader of the critical factors of Integration Planning within each function and the international considerations for cross border deals. I especially found the IT systems chapter very useful. I could develop a good IT Due Diligence Checklist from reading the chapter. At the end of each chapter and the book, There are some good checklists and planing tools that can help you get started while putting together your integration plan. If you are looking for a deep-dive into the field of M&A, "The Art of M&A Integration" series has a good selection. This book is mainly for beginners.
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