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.