The Complete Guide to Mergers and Acquisitions

"When a structured integration process is well managed, significant results can be achieved."

"Sophisticated acquirers are redefining the process of due diligence, by using a structured approach to assess traditional and nontraditional components alike."

"There are as many integration risks as there are deals and deal makers."

"The cultural dimensions most relevant to an audit will be different for each company and each new transaction."

"Treat the integration process as nothing less than a far-reaching change-management initiative for both companies."

"There are at least nine different but strongly interdependent and continuing sets of responsibilities, or "work streams," that are mission-critical for the success of any merger integration."

"Companies being combined must be coordinated through a single project team that has been given clear roles, responsibilities, and expectations."

"To beat the grapevine, especially during an M&A transaction, top managers need to use communication effectively so that rumors do not become the main source of information."

"If you don't win your key people over, someone else will."

"Structure and staffing decisions will always be difficult, politically charged, and emotional in nature."

"There are actually four areas for which separate but interrelated measurement processes must be continually managed during merger integration."

"Most integration initiatives fall short of reaching their goals when the rubber hits the road."

"In order for HR to deliver a more strategic business impact during M&A integration, the organization must realign its influence systems in order to change actual behavior."

"In creating a successful merger, ten key recommendations should be kept in mind."

"The phrase "a merger of equals" is an integration killer."