The Human Side of M & A

The Human Side of M & A : Leveraging the Most Important Asset in Deal Making

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There are thousands of mergers every year and, by some estimates, two-thirds of them either fail or fall far short of expectations. How can leaders keep their merger from becoming a head-on collision? In The Human Side of M&A, Dennis Carey and Dayton Ogden argue that most failed mergers looked good on paper-they made financial and strategic sense-but the crucial human element was neglected or overlooked. Consequently, corporate cultures often clash and wreck any chance that the companies will work harmoniously together. The authors, who have worked with many companies in the process of merging, draw on their unique experience to demonstrate how to address the human side of a merger, revealing pitfalls to avoid as well as best practices to pursue. They describe how to assess the quality of the people on both sides, aligned with the strategy, to determine whom to retain. They argue that the CEOs need to create a new vision for the combined company (one that differs from the visions of the two individual entities). And they stress that it is vitally important to move quickly once the merger is approved so that the new enterprise can hit the ground running on the first official day of operating as a combined company. The book concludes with a rigorous statistical appendix that analyzes some of the most successful mergers of the past ten years, validating the book's underlying theme and conclusions. While the volume of mergers may wax and wane depending on a host of economic factors, mergers will endure as a logical, efficient, and profitable strategy for many companies in a global economy. This book will help ensure the success of those who choose this more

Product details

  • Hardback | 208 pages
  • 158 x 236 x 22mm | 439.98g
  • Oxford University Press Inc
  • New York, United States
  • English
  • 0195140966
  • 9780195140965

Review quote

"When you get right down to what makes mergers work in the end-it's getting the people side of the equation sorted out fast. This book provides an extremely helpful framework to manage these issues in ways that will significantly enhance the execution of any M&A transaction." -Paul Hanrahan, President and CEO, AES Corporation "Good strategy is behind any merger, but great leadership is behind all successful mergers. Having serviced the top management of many, Dennis Carey and Dayton Ogden show how the right culture, right people, and right board are the difference between conception and execution in mergers and acquisitions. The chapter, Improve the Odds, will improve your odds." -Michael Useem, professor and director of the Wharton School's Leadership Center and author of Leading Up and The Leadership Moment "Dennis Carey and Dayton Ogden have hit upon an essential business truth: The most important leadership challenge is to effectively manage an organization's 'human capital,' from the board room to the mail room. Even mergers and acquisitions that make perfect sense on paper will fail if talent and expertise are allowed to walk out the door. The Human Side of M&A demonstrates that leaders who can retain and motivate the best people will secure the kind of competitive advantage that augurs long-term success." -Sanjay Kumar, Chairman and CEO, Computer Associates "The Darwinian nature of a large scale merger-if correctly executed-can create a tremendous uplift in management talent. This book provides you with a solid game plan on 'how to do it'." -J. P. Garnier, CEO, GlaxoSmithKlineshow more

About Dennis C. Carey

Dennis C. Carey is vice chairman of Spencer Stuart, U.S. He has recruited CEOs and directors for many of the largest global companies and has led numerous large-scale merger integration projects. He is the founder of G100 and the CEO Academy, and the coauthor of How to Run a Company. Dayton Ogden is chairman of Spencer Stuart and previously served for nine years as the firm's chief executive. His search consulting practice focuses on CEO succession and board recruiting for a broad range of international clients. He serves on the board of the American Business Conference and is secretary and a director of Project HOPE. The authors are coauthors of CEO Succession (Oxford University Press, 2000).show more

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