This is part 3 of a blog on the issue of culture in M&A. Here are the links to part 1 and part 2. 10 years ago I worked on the integration of Boots and Alliance Unichem in the UK. It was a ground breaking deal in many ways: The largest private equity backed transaction / delisting at the time, around USD5.3 billion. The buyer, Alliance Unichem, was unknown in […]
For as long as I’ve been working on mergers and acquisitions, the statistics have been dire. With some exceptions, commentators from the strategy houses to the big 4 to independent experts, have bemoaned the seeming inability of companies to consistently generate value from inorganic growth. I will leave the one piece of analysis which reports something different aside, see attached for some comments on that ‘interesting’ analysis! (https://bendehaldevang.com/2014/06/06/the-latest-ma-analysis-from-mckinsey-part-of-the-problem-or-part-of-the-solution/). What’s extraordinary […]
With thanks to Paul Freeman for giving me the initial inspiration behind this latest blog / rant, I want to explore this concept today in a little detail. A long long time ago (in a far away land), someone thought of this phrase as a way of creating a linguistic connection between other forms of capital (financial, intellectual) and that troublesome group of costly, irrational and emotional and most importantly […]
Inarticulate ramblings of a management consultant 