Pre-deal Management

Achieving a successful mergers and acquisitions (M&A) is a highly challenging task. It requires the involvement of a wide range of specialists; the use of multiple kinds of interrelated analyses of strategy, financial feasibility, legal, and other issues; and it needs effective anticipation of, and planning for, complex human and other aspects of the post-acquisition period. This chapter provides an overview of the pre-deal decision-making process and its challenges, drawing on prior research and adding its own perspective. It covers the process from project organization and planning, candidate search, valuation, deal negotiations, and potential deal killers, to the ultimate closing of the deal.