Author: Carlos Keener

[caption id="attachment_198" align="alignleft" width="150"]Integration and Leadership United Leadership - vital to successful integration[/caption] M&A only works if management get behind the heavy lifting of integration, change and performance improvement post-close. Dig beneath any ‘failed’ integration and you will almost invariably find a leadership team that is confused, disillusioned, distracted, or simply unaware of what they are expected to deliver, and why.

[caption id="attachment_177" align="alignleft" width="150"]Logic and Emotion in M&A You need them both![/caption] Last week I heard Tony Blair talking to a packed gathering at Chatham House put on by the organisation Business for New Europe. Their aim is stop politics getting in the way of exploiting UK trade with the rest of Europe – vital, given its value of £600 billion per year.

[caption id="attachment_152" align="alignleft" width="106"]Successful M&A secrets; mergers and acquisitions PART THREE[/caption] This is a series of articles by BTD Founding and Managing Partner Carlos Keener Study after study still puts the failure rate of mergers and acquisitions somewhere between 70% and 90%. Some however have managed to turn acquisition and integration into a true competitive differentiator. What makes these firms consistently successful at M&A, and what can the occasional acquirer learn from them?

[caption id="attachment_115" align="alignleft" width="150"]HP Autonomy comment Why didn't they understand each other?[/caption] What a glittering array of advisers were on hand to take HP and Autonomy to completion in August 2011. Barclays Capital and Perella Weinberg advised HP and for Autonomy it was Goldman Sachs, Citigroup, Merrill Lynch, UBS and JPMorgan Chase. Did any of them see any signs that the relationship would crumble in the way that it has?

[caption id="attachment_152" align="alignleft" width="106"]Successful M&A secrets; mergers and acquisitions PART TWO[/caption] This is a series of articles by BTD Founding and Managing Partner Carlos Keener Study after study still puts the failure rate of mergers and acquisitions somewhere between 70% and 90%. Some however have managed to turn acquisition and integration into a true competitive differentiator. What makes these firms consistently successful at M&A, and what can the occasional acquirer learn from them? A connected approach to M&A: beginning with the end in mind. Ability to buy does not guarantee readiness to own: never has it been more important to ensure before the deal is closed that integration can deliver the goods, and do so quickly without disrupting or burdening the wider business.

United Continental merger IT systems commentA few weeks ago United Airlines’ CEO Jeff Smisek announced that after a challenging 2012, “the road is repaired” and the majority of integration headaches are now behind them. Alongside labour issues and a challenging economic environment, one of the largest of these headaches had to do with the implementation of a common technology platform for their passenger booking and service system, SHARES. The cut-over to the new system last March caused serious disruptions to passenger operations followed by some of the worst flight disruption and customer complaint figures amongst US carriers this year (visit this link for more detail). With the technological issues largely resolved, United now faces an uphill struggle to regain customer confidence and reputation.