Analysis of Results

Abstract

Drucker’s Six Acquisition Principles, as a normative requirement of successful acquisitions, are used to illuminate and explore board-management relationships and interactions in the two case studies. Instead of presenting each case individually under the principles, a comparative analysis was made. The case studies are largely composed of qualitative data but an attempt was made to remain as objective as possible. Where relevant, individual acquisitions are explored, but rather than going into the detail given in the case studies a more general impression across the various acquisitions is aimed at. Finally, the degree to which each principle was fulfilled is evaluated on a scale of fulfilment (not, partially, largely, and fully). All six of Drucker’s principles are vital to the success of a business and failure to provide for any of the elements can lead to the company’s eventual collapse. The first principle, that acquisition should be based on sound business strategy, is perhaps the most important as it contains aspects of the other principles and is therefore given the most consideration below. If this not in place, no matter how well the other requirements are fulfilled, success will ultimately elude the company. As Malik (1999, p. 252) states: