No one begins playing a game without first knowing the basic rules. In the mergers and acquisitions game, however, it seems that there are no rules: movement is chaotic and the undisputed leader one day might be gone the next. Despite years of experience and intense due diligence by the most seasoned executives, knowing how and where to make the next move is often little more than an educated guess.
But there are rules, and there are winning strategies—and Winning the Merger Endgame reveals both. It offers a straightforward analysis of the relentless and inevitable drive toward industry consolidation. The core of this analysis emerges in five maxims—the fundamental rules of the game:
- All industries consolidate and follow a similar course
- Merger actions and consolidation trends can be predicted
- The Endgames curve can be used as a tool to strengthen consolidation strategies and facilitate merger integration
- Every major strategic and operational move should be evaluated with regard to its Endgames impact
- Endgames positioning offers a guide for portfolio optimization
Where do a company and its industry lie on the inexorable path to consolidation? What are the best strategies based on that positioning? What operational changes are required to prepare for and execute a value-enhancing merger? Winning the Merger Endgame answers these questions and hundreds more, giving executives the essential playbook they need to steer their organization to the top of the endgame.
