External growth and business strategy: subjective sphere:
1) Psychological components that influence decision-making processes.
2) Growth is a physiological factor that characterizes companies and
management.
3) Mechanism of growth orientation implies a form of hedonism towards
one's own abilities (eg desire, ambition to reach successful positions).
The process analysis prospects: strategic to financial.
Content and role of acquisition services:
1) Phase of the analysis and of the preliminary strategic assessment.
Objectives of the acquisition and characteristics of the potential "target".
2) Financial assessment and negotiation phase. Negotiation management
and final drafting of the sale contract (signing and closing).
3) Post-merger integration phase. Decisions and operational aspects
necessary to achieve the expected synergistic benefits.
Analysis and strategic prior assessment: "strategic audit":
1) Analysis of the sector, competition and competitive variables.
2) Objective recognition of areas of weakness of the company.
3) Identification of the possible economies and achievable synergies.
4) Verification of the compliance of the operation with the overall
strategic design.
Negotiation management:
1) Start, management and final conclusion of the negotiation.
2) Identification of the ideal candidate and setting up an effective
negotiating strategy.
3) Internal management has merely support tasks, following the
development of the process and providing assistance and necessary
information.
Letter of intent and Due Diligence:
1) Letter of confidentiality.
2) Letter of intent.
3) Letter of offer.
The preparation of the offer:
1) Subject of the acquisition.
2) Reference price.
3) Contractual conditions.
4) Any earn-out mechanisms.
5) Guarantees and special clauses.
6) Temporal validity of the offer.
The financial feasibility of acquisitions:
1) Direct type requirement, linked at the time of closing to cover the
established contract price (as an external variable, rigid and
independent).
2) Indirect needs, arising at a later time to manage the integration and
carry out the acquisition objectives.
The management of the integration process:
1) Project planning.
2) The approaches and measures to achieve synergies.
3) Integration management.
4) The models of integration and the prevailing theories.