Alberto Elli looks where the resources are concentrated during the three major temporal blocks of an acquisition
After so many years of being involved in business development, I think one of the most critical moment in an acquisition is the integration phase, when there are great chances to destroy shareholders’ value.
Let’s see where the resources are concentrated during the three major temporal blocks of an acquisition:
1) Strategic intent, target setting and proforma decision to justify the deal price. Great focus from top management, quite unrealistic expectations pushed both from inside (needs for growth) and from outside (bankers driven by fees as a percent of acquisition price).