Customer Reviews

The Art of M&A Integration: A Guide to Merging Resources, Processes and Responsibilities

5 star:		(14)
4 star:		(0)
3 star:		(1)
2 star:		(3)
1 star:		(3)

 

 

Alex Lajoux, an unusually gifted writer, has done it again. Having worked to make one large and difficult merger - and a host of smaller acquisitions - succeed, I wish her book had been published years ago. Succeeding at post-merger integration is tough. However, this book carefully documents the biggest challenges in aligning systems, operations, and people. Its insights are backed up with plenty of real-world examples and the latest research data available. If more top executives and managers read The Art of M&A Integration, we might very well see more mergers and acquisitions actually create rather than destory shareholder value.

Alexandra Lajoux's new book greatly expands on her considerable earlier commentary on M&A activity, focusing on what happens after the knot is tied and the many loose ends that need tending to: employee communications, financial controls, information technology, management misunderstandings, compensation issues, and cultural clashes, to name but a few. Regardless of the amount of thought and planning that may have shaped the prenuptial agreement, the actual merging, or integration, of two corporate entities inevitably brings surprises. One purpose of this comprehensive book is to help the reader to minimize the impact of unforeseen problems. The book is rich with examples of both historically significant and current mergers, yet because of its question-and-answer format is easily accessible and in fact a good read. Ms. Lajoux, having observed and reported on M&A and corporate governance for over twenty years, knows whereof she writes but nonetheless calls on the knowledge of many others as well. The fifty experts in various facets of M&A who contributed in one way or another to this book are identified for the readers' convenience. One measure of the scope of this book is the fact that its index, in fine print, takes up a good dozen pages. In summary, The Art of M&A Integration: A Guide to Merging Resources, Processes, and Responsibilities, is a thorough guided tour through the field and, not incidentally, a giant check list of potential pitfalls and opportunities along the way.

I've recommended this book to several friends.

Alex Lajoux cut her professional teeth on this subject, and knows her stuff! Fortunately, she also is a surperb writer, and is able to organize and explain often difficult material in a very readable and clear manner. THE ART OF M&A offers a step-by-step textbook that will prove valuable for anyone contemplating or going through the merger process. The book is logically broken down into appropriate topics (Basic Definitions and Data, Integration Planning and Communication, Integrating Financial and Tangible Resources, etc.) and sub-topics (Preserving Brand Identity after a Merger, Merging Senior Management Teams, etc.) making this a valuable reference book which will become a keeper in any executive library. Read this book before you merge or acquire, and you won't be disappointed. The small investment will save you a fortune in legal fees and headaches later!

As a stockbroker, I watch merger announcements closely. I want to anticipate what will happen after a merger. Will the merger be successful? If so, I am more likely to recommend the stocks to my clients. Or will the merger be a failure? In this case, I recommend selling. I have added The "The Art of M&A Integration" to my library because it addresses important issues affecting postmerger performance. I recommend it to my fellow brokers, and to anyone else who wants to "bet on the winners." A Reader in Washington, D.C.

Lajoux continues to give excellent guidance on the art of merger integration. Her summaries, although brief, are easily digestable and understandable, without being superficial. Lajoux relies on experts and solid sources for further guidance, structuring the book in a Socrates "Q&A" format that keeps the reader absorbed and interested. It is evident that Lajoux's aim is to be thorough in scope, yet not overwhelm the reader with voluminous data on any one aspect of postmerger integration. Her concise, albeit compehensive work will be a useful guide for management in my company, which has undergone several acquistions in recent years and anticipates more in the future. Lajoux deserves high marks for her excellent work.

This book turned out to be very useful for me. It gave me the background I needed for my thinking about the effect of an M&A done wrong--and what a team can do to do it right. I found many great ideas that helped me put this subject into perspective. A valuable resource.

The real challenge in corporate mergers begins when the merger has been completed, and it is time to integrate the entities.  This book, by corporate governance expert Alexandra Reed Lajoux (editor of Director's Monthly) is a clear, well-organized, step-by-step guide to making the on-paper advantages of a business combination become reality.  With dozens of real-life examples of both good and bad practices, she guides readers through the process of merging formerly independent departments, whether manufacturing systems, service operations, distribution channels, information systems, and more, while meeting commitments to employees, customers, and shareholders.

I freely admit that this book has seen better days. Please note that I have written an entirely new edition (2006) of this book, which is full of practical tools. The 1998 edition is out of print and should not be offered on Amazon anymore. Please give the 2006 edition a try. It has all "high level" material of the original but is MUCH more practical. Alexandra R. Lajoux

The latest volume from Alex LaJoux is another well-written, comprehensive book from a thought leader in the M&A field. The book not only covers areas of concern and study for companies considering a merger, it also presents information on the post M&A period, a topic that is not covered enough in the currently available materials. Whatever stage of the M&A cycle you are in right now, this is a book you will find useful and insightful.

This is an excellent check list for M&A integration with down to earth counsel and how to's. I was impressed with the thorough research and the extensive input from numerous experts with hands on experience in M&A. Post acquisition work is the decisive element in M&A success. This book provides outstanding insight in this critical process. An excellent reference book.