Merger & Acquisition Leader's Playbook

GEORGE B. BRADT is Chair of PrimeGenesis, helping lead the revolution in how people start new jobs. Prior to founding PrimeGenesis, George served in sales, marketing, and general management roles around the world at companies including Procter & Gamble, Coca-Cola and J.D. Power and Associates as chief executive of its Power Information Network spin-off.JEFFREY P. PRITCHETT is Senior Managing Director and a Senior Operating Executive for Cerberus. He is a seasoned chief executive with extensive experience driving strategic initiatives and improving companies’ overall commercial, financial and operating performance. He has worked in leadership, officer, director and advisory roles for Fortune 500 companies and middle market businesses in both public and private settings.

• Acknowledgments ixExecutive Summary xiPart I The Strategic Playbook 1Chapter 1 The Investment Case: The Heart of the Merger and Acquisition Leader’s Playbook 3Tool 1.1 Investment Case 18Chapter 2 Focus:It Drives Everything Else 19Chapter 3 Plans: Strategy Precedes Execution 29Tool 3.1 Situation Analysis Checklist 38Tool 3.2 SWOT 40Tool 3.3 Business Planning 41Chapter 4 Innovation: A Fundamental Strategic Choice 43Tool 4.1 BRAVE Innovation 74Part II The Commercial Playbook 75Chapter 5 Organic Revenue Growth: So Valuable 77Chapter 6 Customers: From Which All New Value Flows 83Chapter 7 Marketing and Sales: Which Every Organization Must Do 87Tool 7.1 Purchase and Sales Funnel Management 88Tool 7.2 Marketing Planning 90Tool 7.3 Creative Brief 95Tool 7.4 Strategic Selling 99Part III The Operational Playbook 103Chapter 8 Cost Optimization: To Free Up Resources to Fuel Commercial Growth 105Chapter 9 Operational Excellence: Supply Chain, Distribution, Continual Improvement 111Tool 9.1 Team Charter 122Tool 9.2 Milestone Management 123Chapter 10 Technology: Because All Companies Are Technology Companies Today 125Part IV The Financial Playbook 129The Financial Playbook 129Chapter 11 The Deal and Due Diligence: Iteratively 131Tool 11.1 Culture 153Tool 11.2 Negotiating 155Tool 11.3 Due Diligence Checklist 157Chapter 12 Financing the Deal: The Different Options 165Chapter 13 Further M&A: Enabling Commercial and Operational Success 171Part V The Governance Playbook 173Chapter 14 Regulatory: And the License to Play 175Chapter 15 Financial Governance: Always Necessary 179Chapter 16 The Board: And Its Multiple Roles 185Part VI The Organizational Playbook 195Chapter 17 Culture: The Underlying Root Cause of Nearly Every Merger’s Success or Failure 197Chapter 18 Incentives: Show Me How They’re Paid and I’ll Tell You What They Do 223Chapter 19 Leadership: Starting with the Core Leadership Team 227Tool 19.1 Team and People Assessment 243Chapter 20 People: Acquire, Develop, Encourage, Plan, Transition 245Tool 20.1 Future Organizational Capability Planning 264Tool 20.2 Talent Management 265Tool 20.3 Recruiting Brief 267Chapter 21 Politics: What Current and New Leaders Need to Know Organizationally and Personally 269Part VII The Change Management Playbook 279Chapter 22 Integration Leadership: Start Here 281Chapter 23 Change Management: Leading Through the Point of Inflection 291Tool 23.1 Alignment Workshop 303Chapter 24 Communication: Everything Communicates 305Tool 24.1 Communication and Presentation Planning 320Chapter 25 Announcement Cascade: Emotional, Direct, Indirect 321Tool 25.1 Announcement Cascade 328Tool 25.2 Press Interviews 329Chapter 26 Adjustments: Because You’ll Need Them 331Tool 26.1 Management Cadence 349Part VIII Prototypical Order 351Chapter 27 Prototypical Order 353About the Authors 361Guest Contributors 365Bibliography 367Index 369