Integration after the merger is a key factor for the acquisition success. However, how can you get a detailed integration plan before closing if you’re prevented from having in depth-discussions with the counterpart party?
If the merger decision has been approved, then access to required data from both entities is essential to ensure integration success.
Forming the PMI team along with steering committee with management from both companies that can facilitate such access and allows for in-depth discussions with the parties involved.
In my experience no. Due to legal limitations on what companies can share before close the best that can happen is a solid plan for PMI. That includes identifying key resources, setting a governance structure, stating assumptions for going forward integration, and specifying key milestones to day 100 and to 1 year
Yes, the closing date is the start date for the integration. However, due diligence should include a number of things required for integration planning, even if the PMI team is not directly interfacing with the target team that will be performing the work. For example, key systems, KPIs and employees to retain should all be included in DD summary reports. This can be incorporated into the general integration plan for system migration and employee journey, with the understanding that the high level plan will ultimately be honed once there can be a more open discussion post-closing. I would argue that that high-level integration plan should be shared back to the target company during the acquisition process, so that expectations are clear on the ultimate goals on both sides of the deal.