Managing the Merger: Making It Work by Philip H. Mirvis and Mitchell Lee Marks Managing the Merger: Making It Work
By Philip H. Mirvis and Mitchell Lee Marks
2003/01 - Beard Books
1587981661 - Paperback - Reprint -  400 pp.

Business managers and chief executives will find the insights, attitudes, and practical measures necessary to make a merger successful whether friendly or unfriendly, large or small.

Publisher Comments

Category: Banking & Finance

Of Interest:

Dangerous Pursuits: Mergers and Acquisitions in the Age of Wall Street

Joint Ventures, Alliances, and Corporate Strategy

Leveraged Management Buyouts

Megamergers: Corporate America's Billion-Dollar Takeovers

Merger: The Exclusive Inside Story of the Bendix-Martin Marietta Takeover War

Mergers and Acquisitions: Issues from the Mid-Century Merger Wave

Takeover: The New Wall Street Warriors: The Men, the Money, the Impact

The Corporate Merger

The General Mills/Parker Brothers Merger: Playing by Different Rules

The Human Side of Mergers and Acquisitions: Managing Collisions Between People, Cultures, and Organizations

The ITT Wars: An Insider's View of Hostile Takeovers

The Liquidation/Merger Alternative

The Titans of Takeover

Transnational Mergers and Acquisitions in the United States

In this groundbreaking book, first published in 1992, two veteran merger and acquisition mavens take you behind the scenes, examining dozens of successful as well as poorly managed corporate marriages, to show you what's really required to achieve the best possible strategic, organizational, and cultural fit between any two companies. They point out that the key to success is how the merger is managed and what steps should be taken before, during, and after the merger. The authors' broad experience in the field provides you with today's best practices in banking, health care, high tech, transportation, and many more industries.

Referring to an earlier version:

Here is step-by-step guidance on handling the most difficult aspect of a merger--the human side. Mirvis and Marks draw on their extensive work as consultants to 20 of the biggest mergers in the past decade to present key lessons for managing the merger. Illustrated.

Referring to an earlier version:

Statistics show one in every three acquisitions is sold off within five years. Why? In the final analysis it usually comes down to this: poor planning and management. Using in-depth case studies such as the corporate marriage of Sperry and Burroughs and Times Mirror's takeover of Graphic Controls, Managing the Merger gets into the guts of what it takes to make a merger work. It distills key lessons for successfully managing the human, organizational, and cultural differences that can unravel a seemingly "perfect fit." The great majority of corporate mergers and acquisitions fail, whether the yardstick used is combined earnings, sales, growth rates, or shareholder value. And the single most crucial factor in so many cases is how the merger was managed.

In this groundbreaking book, two veteran M&A consultants take you behind the scenes -- examining the creation of Unisys, Times Mirror's acquisition of Graphic Controls, and dozens of other successful and poorly managed corporate marriages -- to show you what's really required to achieve the best possible strategic, organizational, and cultural fit between any two companies.

With a growing number of strategic and global mergers looming in the 1990s -- including Japanese purchases of American firms and U.S. buys in Europe -- there is even a greater need, say the authors, "for joint planning, effective leadership, cultural sensitivity, and people-mindedness, central messages of this books.'

From Martin Sikora, Editor, Mergers and Acquisitions

A long overdue reminder to the numbers crunchers and bean counters that flesh and blood humans make the difference whether a merger succeeds or fails. It shows the dealmaker what to do with its people and, more important, what not to do to them.

From Charles Garfield, author of Peak Performers: The New Heroes of American Business

I know of now other book which backs up sound advice for merger managers with colorful examples of how the work of putting companies together really gets done. Mirvis and Marks cover both the hard business decisions of determining integration strategies and the delicate human and cultural dynamics which effect the implementation of every deal."

From Isay Stemp, President, Stemp and Company

Managing the Merger is by far the best book I've read about what to do and what not to do after the ink dries on the merger agreement. This book if full of no-nonsense observations about how to succeed in the critical area -- people.

From Michael R. Losey, President, Society for Human Resource Management

Merger management will be required competency of the most senior management for a long time to come, and this excellent summary of lessons learned to date should be studied by the next CEO faced with a merger.

From Edward E. Lawler, Director, Center for Effective Organizations, Graduate School of Business Administration, University of Southern California

Must reading for anyone interested in mergers and organizations. A rich and itneresting treatment of an important topic

From Amazon.Com

The authors' broad personal experience and intimate knowledge of the mergers and acquisitions field give you access to today's best practices in banking, health care, high tech, transportation, media/broadcasting, brewing, oil and many more industries.

You will also find invaluable guidance on how the special problems posed by multinational mergers can be overcome, opening up vast new markets and profit opportunities for shrewd chief executives.

Philip H. Mirvis is an organizational psychologist whose practice centers on mergers and acquisitions. He has lead seminars throughout the US and lectured in both Europe and Japan on managing the merger process.


Mitchell Lee Marks is a leading international expert on the human and organizational aspects of corporate mergers, and principal in the Los Angeles office of William M. Mercer, Inc, one of the world's foremost consulting firms.


The authors were dubbed "Merger Mavens" by Fortune Magazine.


Chapter 1: What It Takes to Succeed
Retaining GC's Identity. the CEO as Hero. A Vision of Partnership. Managing Merger Madness. What Has to be Managed? Process Is the Prescription. Theory and Practice.
Chapter 2: Contested Terrain
Merger Mania. Merger Activity in American Business. The New Rules of Engagement. Restructuring and Downsizing. Love and Warfare. Writing a New Script. The Human Costs of M&A


Chapter 3: Organizing the Buy and Sell
"Textbook" Steps in Making a Deal. The Politics of Buying a Company. Hewlett-Packard Buys Apollo/Apollo Buys Hewlett-Packard. Lessons on Search and Selection. Understanding Organizational Fit. Cultural Compatibility. The Rush to Close. "King Broadcasting for Sale --- Everything Must Go!"
Chapter 4: Strategic and Psychological Preparation
Making the Business Case. A Merger of Equals. Strategic Preparation. Unihealth America: Making Time an Asset. The Mind-set of the Buyer. Psychological Preparation. The Mind-set of the Acquired. Rites of Passage


Chapter 5: Stress, Uncertainty and Anxiety
What makes a Merger So Stressful. Top-Level Leadership. Helping Employers Manage Stress. Communicating to People. Involving People. Caring for People. The Role of Line Management.
Chapter 6. Managing Integration
Crisis Management. Two Approaches to Integration. Creating NEWCO. Managing the Integration Process. Transition Management Tasks. Speed of the Transition
Chapter 7: The Clash of Cultures
What is Culture? Culture Clash---Graphic Controls. Stages of the Culture Clash. Managing the Clash of Cultures. Levels of Acculturation. Strategy versus Culture. Creating a Unisys Culture. Culture-Building Ceremonies. Cultural Resistance.


Chapter 8: Winners, Losers, Survivors
Postcombination Status. Management Appointments. Retaining Top Talent. Downsizing After the Deal: Letting People Go. Layoffs in High Tech. Lessons on Managing a Downsizing. Survivors. Helping Survivors Cope. States of Personal Adaptation to Change. Factors Affecting Postmerger Morale
Chapter 9. Rebuilding the Business: Teamwork
Understanding Postmerger Mind-sets. The Challenges of Team Building. Training for Team Building at AT&T. Team-Building Tasks. Team Building Top Down. Team Building Through the Ranks. Managing Your Own Transition.
Chapter 10: Reculturation
Magnitude of Postmerger Change. Transformation: Unisys. 1987-1988. 1989-1990. Culture Change at GC. Replacing the CEO. Feeling the Elephant. Reculturation at GC


Chapter 11: Tracking the Combination
Why Track Change? What to Look For. How to Track Progress. Case Examples.
Chapter 12: International M&A
International Deals; Scale and Scope. Molson-Carling O'Keefe. International Buying and Selling. Multinational Merging. Postmerger Management. Culture Clash in International Mergers. Global M&A.
Postscript: Winning Hearts and Minds
Building Through M&A. Leadership from the Top: Theory and Practice. Realism in the Ranks. Charting a Better Course.

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