Protiviti兼并收购管理最佳实践

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1、2.3.6ManagemergersandacquistionsBestPracticesOverviewMergersandacquisitionshavebeentakingplaceatatremendousrateinrecentyears.Nearlytwo-thirdsofthenewcombinations,however,havefailedtoproducepositiveresults.Reasonsvaried.Often,thetwocompaniesinvolvedwere

2、simplyapoorfit.Sometimesintegrationprogressedtooslowlyorcompanyleadersoverlookedthehumanelementofthemerger.Companiesthatapplybestpractices,however,realizetheirmergerandacquisitiongoalsbyfollowinganumberofpracticesthatensuresmootherintegrationandmoresat

3、isfiedemployees,customers,andshareholders.Thesepracticesincludeusingteamscomposedofemployeesfromtopexecutivestohumanresources(HR)personneltotaketheleadinmergerdealstohelpthecompanyunderstandtherisksandopportunitiesposedbythemerger.ThecompaniesgiveHRper

4、sonnelimportantrolesinthemergerprocesstokeepthehumanfactorfrontandcenterduringandafterthedeal.Andbestpracticescompaniesdonotattemptmergersunlessbothcompaniesfindcompellingreasonstomerge,includingcostreductionsandgrowthpotential.Finally,leadingcompanies

5、attempttounitedifferentcultures,preservingprofitabledifferenceswhileachievingthefinancialbenefitsthatcomewithintegration.BestpracticesThebestpracticesthatfollowdescribemanyoftheelementsinvolvedinsuccessfulmergersandacquisitions.Theyrangefrompremergerin

6、vestigationstopostmergerintegrationstrategies.·Usestrategyteamstospearheadthemergeroracquisition.Whileinvestmentbankersplayanindispensableroleinthemergeroracquisitionprocess,companiesthatapplybestpracticesdonotrelyonlyonteamsofbankerstoexecutesuccessfu

7、lbusinesscombinations.Bestpracticescompaniescreatenumerousteams--mostofthemdrawnfromwithinthemergingfirms--toseethecombinationsthroughtosuccessfulconclusions.Eachoftheteams,whichrangefromsteeringcommitteesdrawnfromthehighestlevelsofmanagementtogroupsof

8、internalauditors,bringsitsownsetofskillsanduniqueperspectivetothepre-andpostmergerprocess.Theteamsensurethatbothcompaniesinvolvedinapotentialcombinationunderstandanddealwiththebroadrangeofissuesemergingduringandafteramergeroracquisition