Is it Spring in the M&A market?

Twice in almost as many weeks we have been called in to talk about some messy European M&As. Newspaper reports back up our experience that mergers are once again on the rise.

But it feels different this time from the rush to buy of the late 1990s, early 2000.

For one thing the companies are smaller. Companies with only a few thousand employees wouldn't have troubled consultants a few years ago.

And for another thing they are focusing on different things.

Last time it was all about value. Getting more for the shareholder. They weren't concerned enough about the transition of people or business continuity. It felt like CEOs putting their ledgers together and making snap decicions.

Corporate speed dating, if you will.

The lonely walk home, at dawn, in wrinkled party clothes, then followed.

Today it's different.

Communication is central to early planning. We are being asked how to make sure that the marriages work.

That's great.

And a major step forward.

But at the same time we are now seeing a frightening lack of attention to another key ingredient -- corporate culture.

'What is this organisation really like?'

Without studying, understanding and managing corporate cultures you are smashing two companies together without the tools they need to do their jobs effectively.

Think of it as akin to sending your top rowing team out to play hockey... with their oars!

/df