No I have not changed my mind. There are no mergers, just acquisitions. But there is a limit on how many myths I try to bust without flushing myself down the drain. Mergers and acquisitions have never been easy; in the post corona era, they are harder than ever. I will list the three major challenges that I have experienced as well as what can be done, if anything, to mitigate the new challenges.
a) Any talent acquired in the acquired company may not be there in a few months. Yes, you can buy them perhaps physically, but committment is impossible to buy. So you better be very very sure that what you are buying is there to stay for as long as you expect.
b) Mergers and acquisitions are painful; long hours; lots of travel and lots a headaches. The level of pain people are willing to tolerate appears much lower than before corona. So whatever time frame is expected for the merger/acquisition to work, I suggest quadrupling it.
c) Generally there is a process of the unification of shared services, such as supply chain/ purchasing, travel coordination, finance, HR, IT etc. I would think ten times about merging supply chain. The supply chain is disrupted enough externally without self created disruption.
d) Building trust by Zoom is absurd. There is an illusion that lots of work can be done virtually, including trust building. Post merger trust cannot be built easily at all-and certainly not remotely. So no short cuts-don’t shower with a raincoat.