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Integration Management in Mergers and Acquisitions: Success Factors and Pitfalls

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Mergers and Acquisitions

Part of the book series: Management for Professionals ((MANAGPROF))

Abstract

This chapter briefly elucidates the typical M&A project phases and highlights the crucial success factors of each project phase. Several studies have revealed that the key factor for a successful transaction is not the price tag of an acquisition but rather a company’s transformation into an integrated business model. Bergamin and Braun have established five principles for successful integration and determined the key factors for an effective project management.

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Notes

  1. 1.

    Müller-Stewens (2006, p. 3), Spill (2007, p. 1 f).

  2. 2.

    Unger (2007, p. 876) (A.T. Kearney), Schreiner et al. (2010, p. 291), see also: Jansen and Brügger (2012, p. 663).

  3. 3.

    Unger (2007, p. 876) (A.T. Kearney), Schreiner et al. (2010, p. 291).

  4. 4.

    Jansen and Brügger (2012, p. 663).

  5. 5.

    Müller-Stewens (2006, p. 3): “After the legal papers are signed, the major task still lies ahead. The problem is to keep the faces smiling the morning after.”

  6. 6.

    Ibid.

  7. 7.

    We distinguish this category from large companies that—in Switzerland for instance—are largely represented in the Swiss Market Index (SMI).

  8. 8.

    Gerds and Schewe have established an analogous line of action concept. In the following, this concept will be brought into question and be amended on the basis of our practical experience and a series of interviews.

  9. 9.

    Grube and Töpfer (2002, p. 104), Bertels and Cosach (2012, p. 535 f).

  10. 10.

    Gerds and Schewe (2014, p. 152 ff).

  11. 11.

    Grube and Töpfer (2002, p. 112).

  12. 12.

    Gerds and Schewe (2014, p. 154).

  13. 13.

    Grube and Töpfer (2002, p. 112).

  14. 14.

    Gerds and Schewe (2014, p. 152).

  15. 15.

    Böning (2010, p. 355 f).

  16. 16.

    Gerds and Schewe (2014, p. 152).

  17. 17.

    Kahneman (2012, p. 178 ff).

  18. 18.

    Bertels and Cosach (2012, p. 542 f).

  19. 19.

    Schreiner et al. (2010, p. 312 f).

  20. 20.

    Gerds and Schewe (2014, p. 135 f).

  21. 21.

    Grube and Töpfer (2002, p. 117).

  22. 22.

    Gerds and Schewe (2014, p. 129).

  23. 23.

    Picot, Personelle Integration (2012a, b, p. 611).

  24. 24.

    Gerds and Schewe (2014, p. 116).

  25. 25.

    Gerds and Schewe (2014, p. 142), Picot, Personelle Integration (2012a, b, p. 613 f).

  26. 26.

    Picot, Personelle Integration (2012a, b, p. 606 f.)

  27. 27.

    Gerds and Schewe (2014, 92 ff.), Grube and Töpfer (2002, p. 113).

  28. 28.

    Grube and Töpfer (2002, p. 112).

  29. 29.

    Gerds and Schewe (2014, p. 175 ff).

  30. 30.

    Gerds and Schewe (2014, p. 174 f).

  31. 31.

    See also Schreiner et al. (2010, p. 303).

  32. 32.

    Jansen and Brügger (2012, p. 689 f).

  33. 33.

    Bertels and Cosach (2012, p. 547).

  34. 34.

    Ibid., p. 541 f., Gerds and Schwebe (2014, p. 135).

  35. 35.

    Gerds and Schewe (2014, p. 135).

  36. 36.

    Ibid., p. 135 ff.

  37. 37.

    Cf. analogous empirical results in: Schreiner et al. (2010, p. 313).

  38. 38.

    Raffel (2006, p. 119), Schäfer and Blankenberg (1997, p. 1 ff).

  39. 39.

    Fuhrer (2007, p. 236 f).

  40. 40.

    Spill (2007, p. 16 f).

  41. 41.

    Jansen and Brügger (2012, p. 691 f.), Müller-Stewens et al. (2010, p. 207 f.), and Unger (2007, p. 875).

  42. 42.

    Böning (2010, p. 352).

  43. 43.

    Böning (2010, p. 357).

  44. 44.

    Jansen and Brügger (2012, p. 688 f.), Müller-Stewens et al. (2010, p. 219), Rothenbücher et al. (2012, p. 6), and Unger (2007, p. 874).

  45. 45.

    Jansen and Brügger (2012, p. 690 f).

  46. 46.

    Unger (2007, p. 887).

  47. 47.

    Rothenbücher et al. (2012, p. 10).

  48. 48.

    Jansen and Brügger (2012, p. 685).

  49. 49.

    Rothenbücher et al. (2012, p. 7).

  50. 50.

    Bertels and Cosach (2012, p. 541 f).

  51. 51.

    Müller-Stewens et al. (2010, p. 213 f).

  52. 52.

    Gerds and Schewe (2014, p. 84 ff.), Raffel (2006, p. 121), and Unger (2007, p. 881).

  53. 53.

    Jansen and Brügger (2012, p. 690 f).

  54. 54.

    Unger (2007, p. 882).

  55. 55.

    Neumann and Rumpf (1998, p. 4).

  56. 56.

    Ungerath and Hoyningen-Huene (2005, p. 6).

  57. 57.

    Müller-Stewens et al. (2010, p. 212 f.) and Böning (2010, p. 349).

  58. 58.

    Böning (2010, p. 353 f).

  59. 59.

    Rigall and Tarlaat (2010, p. 313): Empirical study on the success factors of integrations. Transparency from the start is a crucial factor for success.

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Authors and Affiliations

  1. Männedorf, Switzerland

    Stephan Bergamin

  2. Winterthur, Switzerland

    Markus Braun

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  1. Stephan Bergamin
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  2. Markus Braun
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Bergamin, S., Braun, M. (2018). Integration Management in Mergers and Acquisitions: Success Factors and Pitfalls. In: Mergers and Acquisitions. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-319-60504-3_1

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