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After the merger
This three-article package examines a favorite pastime of senior executives: buying or restructuring companies. "The people problem in mergers" offers practical advice for retaining employees who are critical to the success of the new entity. Yet even managers who get the human equation right can still overlook 30 percent of the potential value of a merger. That costly oversight—the result of poor pricing strategy—is addressed in "The hidden value in postmerger pricing." Finally, "When to think alliance" studies the short-term impact of alliance and merger announcements on share values, the significance of these market reactions, and the implications for managers who must structure large deals.
The take-away: The keys to a successful merger are often overlooked. Merged companies need the right people and the right pricing strategy. Their managers must also anticipate the market's reaction to announcements of mergers or alliances and know whether a deal is structured to create optimal value.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
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