Mergers

1. Front Matter

   Pages i-x

   PDF

2. The Elusive Healthy Merger

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 1-14

3. Creating the New Company at the Top

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 15-30

4. Communicating the Corporate Story

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 31-44

5. Establishing a New Performance Culture

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 45-62

6. Championing External Stakeholders

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 63-80

7. Fostering Momentum and Learning

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 81-101

8. Mastering the Language of Integration

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 102-117

9. Assuming Personal Leadership

   • David Fubini, Colin Price, Maurizio Zollo

   Pages 118-122

10. Back Matter

    Pages 123-143

    PDF

Drawing on their own extensive integration experience, the systematic analysis of 167 mergers, and cutting edge academic research, the authors of this book identify the common leadership challenges to be tackled for the achievement of what we call 'corporate health', the most thorough and sustainable test of merger success.

• health
• integration
• leadership
• learning
• merger
• mergers
• research
• stakeholder
• success

'Mergers is a refreshing glimpse into the classic dilemma of making

acquisitions that actually work. By shifting the spotlight from

integration teams to executive leadership, the authors sketch a smart

and yet unexpected playbook of the 5 essential actions that only senior

executives can take. A must read for executives at both buyers and

sellers.' - Kathleen M. Eisenhardt, S. W. Ascherman Professor of Strategy, Stanford University, Co-author, Competing on the Edge: Strategy as Structured Chaos

'Mergers: Leadership, Performance and Corporate Health is not just for those who are contemplating mergers and acquisitions. There is much in the book that is of value to any business leader looking to improve corporate health. It contains simple but powerful truths about communications, management structure and customer care that we all need to apply.' - John Varley, Group Chief Executive, Barclays Bank PLC

'The authors have combined their professional experience, advising leading CEOs, with a detailed academic understanding of the issues surrounding mergers to produce a provocative guide on how CEOs can move their companies to a higher level of performance through an expansive view of merger integration. It is an approach CEOs will have to emulate as the merger game gets tougher and more expensive and the payback ever more elusive.' - Larry Glasscock, CEO of Wellpoint (largest US health care ensurer)

'... this is a thorough analysis that should be required reading for any CEO embarking on any... M&A programme, if they want to improve the probability of success...' - Professional Manager

• Boston, USA

  David Fubini

• London, UK

  Colin Price

• Fontainebleau, France

  Maurizio Zollo

DAVID FUBINI is a Director of McKinsey and Company, Inc., United States/Boston Office. He is the long time leader of the Firm's Worldwide Post Merger Practice and has also served as the North American Leader of the Organization Practice. He also led the Boston Office of the Firm for over a decade. Fubini has been with the firm for over 25 years, during which time he has led efforts for over two dozen of the world's largest mergers & acquisitions. He has also worked extensively in the area of organization transformation improvement. He is a graduate of the Harvard Business School.

COLIN PRICE is a Director at McKinsey and Company, where he also is the Global Knowledge Leader for the Organisation Practice. Price has consulted on organisation design, leadership development, behavioural change and post merger management for two decades in over 50 countries, and has advised many of the globe's largest corporations. Price holds a Visiting Professorship at The School of Management, University of Bath. He holds degrees in Economics, Psychology and Organisation Behaviour.

MAURIZIO ZOLLO is the Shell Fellow in Business and the Environment and Associate Professor of Strategy at INSEAD. His research over the last 12 years has focused on the development of superior organizational capabilities in the management of mergers, acquisitions, strategic alliances and stakeholder engagement processes. At INSEAD, he teaches on these topics at all levels, from MBAs to senior executives. He regularly consults with major corporations on corporate development and social responsibility issues. He holds a Ph.D. in management from the Wharton school at the University of Pennsylvania.

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