The Art of M&A Strategy
The Art of M&A Strategy is exactly what you need to build mergers, acquisitions, and divestitures into your overall business strategy — to make M&A a competitive advantage and avoid landing on the long list of M&A failures.
Experts in the field of M&A, Smith and Lajoux demystify this otherwise complex subject by taking you through the types of M&A strategy and the key steps to successful M&A strategy development and implementation. The Art of M&A Strategy is conveniently organized into three sections:
- Part I presents a range of possible corporate strategy situations and provides the role and rationale for M&A in each, such as building and managing a portfolio, participating in industry consolidation, spurring corporate growth, and using acquisitions to create "real options."
- Part II outlines how to determine the role of M&A in your strategy — taking into consideration industry context, competitive imperatives, and strategy options — and explains how to find and screen partners, decide whether to buy or sell, and engage the board of directors in M&A decisions.
- Part III covers M&A as a sustained corporate program, particularly in the context of international growth, outlining the most strategic aspects of post-merger integration, describing how to use advisors throughout the process, and examining core competencies required for successful M&A programs.
The authors illuminate the purpose and process of applying M&A with real-world success stories involving Cisco, GE, Google, and many other companies that have leveraged M&A for strategic success. Use The Art of M&A Strategy to create a powerful strategy position for success in today's changing business environment and to seize and hold competitive advantage.
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