Practical M&A Execution and Integration

A Step by Step Guide To Successful Strategy, Risk and Integration Management

Inbunden, Engelska, 2011

Av Michael R. McGrath, Michael R. (Hibernia Consulting) McGrath, Michael R McGrath

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Few business activities can match Mergers & Acquisitions (M&A) in terms of the potential for reward and for danger. A successful merger or acquisition can allow a mid-tier company to leap into the top tier, bringing rich rewards to that company, and its employees and shareholders. The failure of a merger can, on the other hand, have a devastating impact, resulting a loss of credibility, destruction of value and in some cases bringing the parties to ruin. Depending on how you measure it, between 50% and 80% of M&A deals fail to attain their objectives, before or even after the deal is done. Practical M&A Execution and Integration is all about maximising your chances of success. Merging, de-merging, acquiring or acquired, if your organisation is involved, or likely to be involved, you will need to manage the process, and following this Handbook will give you a clear, simple framework to get the job done and help your organisation move on and attain the benefits and promise of the deal.The book covers the following core topics: Fundamentals of M&A; the reasons for M&A, types of M&A deals and the challenges they presentM&A RegulationSuccessful M&A, covering M&A power and providing a detailed look at the processes and people involvedDelivering M&AThe unique issues of Banking M&A, which differs significantly from other types of M&A deals.The final section consists of document templates and suggested tables of contents which are designed to be used alongside the advice in the book, thus making Practical M&A Execution and Integration the complete guide to constructing a successful M&A deal.

Produktinformation

Utgivningsdatum2011-09-30
Mått161 x 235 x 24 mm
Vikt617 g
FormatInbunden
SpråkEngelska
SerieWiley Corporate F&A
Antal sidor336
FörlagJohn Wiley & Sons Inc
ISBN9780470687963

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Dr Michael McGrath is an established city professional, with over 15 years of experience working for some of the world's leading banks. He is currently a Head of Function for ADM Operations at Lloyds Banking Group. He is a former regional Chief Technical Officer at Merrill Lynch and Project Delivery Director at Bankers Trust and Deutsche Bank. He was a founder of Hibernia Consulting, a project delivery and risk management consulting firm serving major investment banking clients. Michael has spent his professional life implementing complex change, in particular managing Mergers and Acquisitions from the announcement of the deal through to post-merger integration. M&A deals he has worked on include Lloyds TSB Registrars' demerger from Lloyds TSB Group, the Deutsche Bank acquisition of Bankers Trust (then the largest banking acquisition ever made), the Bankers Trust acquisition of NatWest Markets (then the largest banking acquisition in the UK) and IBM's acquisition of Lotus Development. Michael holds an MBA from the Smurfit School of Business; his MBA thesis won the Institute of Accountants in Ireland gold medal for research in 1996. His doctoral research examines risk behaviour in unfamiliar problem domains and he is probably the only person in the United Kingdom to hold a doctorate in banking M&A risk management.

Tables and Figures xiForeword xvAcknowledgments xviiSection A: About Mergers and Acquisitions 1Chapter 1: Introduction 3Fundamentals of mergers & acquisitions 5Types of M&A deals 6Challenges of M&A deals 11Reasons for M&A 14Chapter 2: Role of regulation 21Regulatory regimes 22UK anti-trust regime 23European Union regulation 26US anti-trust legislation 27Bid process 28Section B: Fundamentals of the Deal 31Chapter 3: Anatomy of a deal 33M&A Stages 33Phase 1: Prelude (to a deal) 36Phase 2: Deal negotiation 40Phase 3: Pre-change of control 44Phase 4: Change of control 50Phase 5: Integration 50Phase 6: Business as usual 53Section C: Successful M&A 55Chapter 4: M&A power 57Clarity 57Capacity 61Speed 76Chapter 5: M&A process 79Risk management 80Planning, management and control 106Project lifecycle and structure 113Issue management 133Risk management practice 138Reporting 149Assumption management 152Dependency management 154Scope change management 157Quality management 162Resource management 164Cost management 166Communications management 170Stakeholder management 173Chapter 6: M&A people 175Culture 175Stakeholders 179Personnel 179Section D: Pulling It All Together: Delivering M&A 185Chapter 7: Timing 187Managing the integration and change of control period 187Project organisation and control 197Section E: Banking M&A 207What makes banking M&A unique? 207Planning for the post-merger period 211Planning to get to the change of control 212Organisational approach 225Issue management 229What if it all goes wrong? 235Section F: Document Templates and Suggested Tables of Contents 239Control documents 239Report templates 245Project document templates 255Bibliography 289About the author 291Index 293