On 16 September 2019 Andrew Hill reported the toll that M&A was taking on staff in terms of disruption and anxiety. Though the article focuses on headlining deals, we believe that regardless of the deal size, employee engagement is one of the keys to realising...
In January 2014 BTD released the results of research into leadership behaviours that influence long-term M&A performance. In the first of this series of comments, we consider the most well-recognised: Deal Fever: "The deal takes on its own dynamic. Negatives are overlooked, and so are any...
With the recently announced acquisition of strategy firm Booz and Co by PwC (still to be voted on by the Booz partners), consulting mergers are back in the news. These – and very probably more to come – are being driven by a significant restructuring...
My colleagues and I have spent much of the past month speaking at conferences, meeting acquisition and integration professionals, heads of strategy and CEOs across Europe and the US, and listening to their plans, hopes and concerns for the coming year. These discussions along with...
Interesting developments continue in the merger efforts of American Airlines and US Airways: According to the Washington Post, the U.S. Department of Justice and several states have just sued to block the proposed merger of American Airlines and US Airways, arguing that the new $11 billion airline would reduce...
In our work over the years, businesses typically do a great job of estimating and tracking the added costs of acquiring a business (eg broker commissions, legal fees, etc). Most also go to great lengths to model desired synergies (both top and bottom-line), and build...
The announcement on 28th July of the merger of these two substantial firms with combined revenues of $23billion reminds me of the one time editor of Campaign, Bernard Barnett’s quote ‘there are many ways to destroy an advertising agency but I have never come across...
OK, M&A is back on the corporate agenda; there is cash available, targets identified and teams assembled in readiness with all the requisite tools and skills. All this is necessary of course, alongside a well-structured framework for executing on the selected deal (both pre- and...