A consulting project in M&A can take very different form depending on the nature of the M&A (consensual acquisition, hostile takeover, or bona fide merger) and the phase at which the client call upon the consultant (identifying potential targets versus facilitating the integration for example). Identifying target will focus the consulting assignment on due diligence and corporate strategy. Integration might involve both due diligence and organizational development activities. It is useful to know that large M&A have the potential to be deemed anti-competitive and thus require an understanding and support of governmental organizations (e.g. FCC in the US).
- Articulate the objectives of the M&A (penetration, diversification, synergies, tax advantages)
- Review/select targeted company(ies) using due diligence, including financial forecasts
- Develop a plan for the integration, identify specific milestones
- Form an integration team that will oversee the integration
- Communicate clearly the strategic motivation behind the M&A to all employees
- Develop incentive programs to encourage all employees to commit to only one culture
- Get support from both organizations and their immediate contribution to the integration team