Developing rules and principles for preparing and implementing acquisition projects

Inhaltsangabe:Abstract: Near the beginning in Homer’s Odyssey the son of Odysseus young Telemachus had been advised by the goddess of wisdom Athena to ask old King Nestor about an important issue relating to the residence of his father. Telemachus hesitated explaining his doubts by introversion and insecurity. Telemachus’ behaviour lives on in the contemporary context of Mergers &Acquisitions where still the most inexperienced unskilled professionals supposed and expected to know everything long before the process starts. „Developing rules and principles for preparing and implementing acquisition projects” attempts to provide a general idea about one of the most difficult vast complicated and sometimes immeasurable growth strategies in management M&A. While M&A activity had been an Anglo-American occurrence during the first merger wave the process of concentration had changed to a global phenomenon. Financially driven acquisitions and corporate raiders had been popular during the 1980s the 1990s and the present is faced with strategic M&A. The present research focuses especially on points that are problematical to measure. Part one comprises a basic approach to M&A including corporate strategy in terms of its characteristics and the element of strategic management. Part two of the thesis is concerned with the entire M&A strategy. Therefore the acquisition process had been divided into three components: 1. Pre-acquisition process. 2. The transaction-phase. 3. Post-merger Integration Management (PIM). The centralisation of this part and also the whole thesis is the search and screen process for potential target companies a marketing and cultural due diligence approach and the post-merger integration management (in particular the integration of different organisational cultures). To be precise the author considered these aspects as absolutely elemental unquestionable and critical for M&A success. As a result point four (Valuation techniq