Acquisitions - How to make a return…(Part 5)
As the uncertainty in our economy continues, there are still many who perceive that asset prices (in a number of classes) are undervalued. There are many SME businesses which fall into this category – but to the naïve, or badly advised, buyer, the process is fraught with danger which can erode the value of an acquisition. I have frequently mentioned M&H’s previous acquisition successes, and very few advisors are in the unique position of having risked their money and accomplished their growth goals.
In the final part of this trail of blogs, our hypothetical acquisition had just got through a rigorous due diligence process. If a deal is still on the table at this point - you should be able to move quickly to completion.
You should have been planning how to integrate the business months ago. Hopefully your plans are now finalised and they can soon be put into action. Even if the acquisition will run as a stand alone unit, time still needs to be dedicated by senior management, otherwise the company could lack sufficient control in the future.
The completion meeting may be a reason to celebrate, but watch out – the real work is about to start...
Date: 5th February, 2009
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