Mergers and Acquisitions
Introduction
Mergers and Acquisitions, and the decrease in activity around this area, is a topic acutely relevant to management consultants and the overall business environment. The number of notifications to the Competition Authority was down thirty per cent in 2009 according to law firm McCann Fitzgerald (Maeve Dineen, Irish Independent, 2010). The facts also show that there was a decrease in the number of transactions in the second quarter of 2010, down to fifty-two to sixty-two, a drop of more than sixteen per cent (www.iicm.ie). A similar trend has continued in subsequent years. This movement is relevant to management consultants as organisations utilise management consultants to assist and advise before, during and after the process: “to draw on their unbiased analysis; to benchmark organisational processes against a range of best practices; to gain perspective and see the ‘big’ picture; and to provide training and related implementation support” (Buono, 2005, pp. 229). Many companies at the present time may be worried or reluctant to begin pursuing such a strategy. However, the use of and experienced and dedicated management consultant can be the difference between expanding their firm and stagnating. These demonstrate the importance of management consultants in the merger and acquisition process and why they are crucial elements for many organisations who elect to pursue such strategies.
One recent news story whose management may benefit from utilising management consultants is of Steve Laird, a Belfast-based IFA who is contemplating M&As (see full article: Appendix One). Mr. Laird cites negotiations as a possible stumbling block in finalising these M&As, including “last-minute changes or issues” (www.ftadvisor.com). This is where a management consulting firm would be able to offer advice and expertise, guiding Mr. Laird’s