Step 7: Develop M&A Communication Plans

M&A communication planning is difficult because a merger is always a fast-breaking story. Every day brings new developments. The truth is a moving target, and often dead on arrival.

Rumors start to fly as soon as people pick up the scent that a merger is in the works.  This is high drama.  Hot stuff.  Everybody has an opinion, and all the rules of gossip prevail. In this tense environment, it is easy for messages to be misinterpreted, twisted, or exaggerated.

Communication planning requires much more thought in a merger than it does during more stable, less stressful circumstances. Yet, most key managers receive little education on what to say, and just as importantly, what not to say. There is little opportunity for them to make an insignificant remark.

M&A Communication Plans

M&A Communications Prior to Day 1

M&A Communciations Day 1

M&A Communication Playbooks

Merger Communications Best Practices

M&A Communication Tools

Merger & Acquisition Communication Plans

Expect These M&A Questions

Expect These Questions During a Merger or Acquisition

The deal will create numerous questions in the minds of stakeholders. By anticipating their concerns in advance, you’ll be better prepared to address them …
 
Answers to FAQs on M&A Communications

Answers to FAQs About Post-Merger Integration Communications

When post-merger integration difficulties develop, over half of them usually have their roots in M&A communication problems. Acquirers who understand the answers to key communication questions reduce the number of people-related problems and run smoother merger integrations.

 

 

M&A Communications Plan

M&A Communications Plan

Agenda

Objectives of Communication Plan
Core Messages
Communication Documents
External Communications
Plant-Level Communications Site HR Responsibility
Ongoing Communications
Organization Structure Announcement . . .
Mergers & Acquisitions Communications Plan

Mergers & Acquisitions Communications Plan

Objectives

  • Level-set on M&A integration communication best practices
  • Understand M&A integration communication approaches and progress-to-date
  • Define Charter and Operating Model for Communications Team
  • Define a set of integration communication Guiding Principles …
Acquisition Integration Communications Plan

Acquisition Integration Communications Plan

Content

  • Keys to Integration Success - Strategic Imperatives
  • Integration Communications - Strategic Implementation
  • Integration Communications - Approval Workflow
  • Communication Objectives
  • Communications Task Force
  • Message and Materials Development. . .
Global HR Integration Process

Global HR Integration Process

Agenda

Meeting Objectives
Communication Restrictions - EMEA
Translation Process
Distribution Process - EMEA & AP
Distribution Process - AP
Communication / Translation Process
HR Recommendations - Organization Structure
HR Recommendations  - Processes
Communication Plan Post-Integration

Communication Plan Post-Integration

Content

  • Objectives of Communication Plan
  • Communication Components
  • Strategic  Conversations
  • Communication Action Items
  • April Communication Calendar
  • May Communication Calendar
4 Key Communication PMI Deliverables

4 Key Communication PMI Deliverables

Deliverables

  1. A Plan for Managing External Communications / Press Releases Related to the Merger
  2. A Plan for Managing Internal Communications / Events Related to the Merger
  3. Communications to Ensure an Issue Free Day 1
  4. Communications for Managing the Successful Onboarding Orientation and Cultural Assimilation of Employees from Acquired Company
Mergers & Acquisitions Communications Team

Mergers & Acquisitions Communications Team

Chartering the Integration Communication Team
Purpose—To ensure we are all in agreement about the objectives of the team, we will document what we will deliver, how we will measure success, how we will communicate with other project teams, what our resource needs are, and possible barriers or constraints.
 

M&A Communications Prior to Day 1

Merger Communications Plan: Announcement to Close

M&A Communications Plan: Announcement to Close

Communication Plan includes over 300 tasks from Announcement to Close for:

The Media

Analysts

Employees

Customers & Partners

Legislators
Day 3 Through Day 1 M&A Communications Plan

Day -3 Through Day 1 M&A Communications Plan

Day -3

  • FTC gives indication that clearance is likely
  • Confirm all final communication documents are uploaded to SmartSheet

Day -2

  • FTC Clears transaction to close
  • Press release related to HSR completion
  • Issue Corporate Acquired Co Investors Press Release ...
Acquisition Announcement Template

Acquisition Announcement Template

The presentation template covers key points of the merger, the strategy behind the deal, overview of products, key customers, timeline, governance, and milestones.

M&A Communciations Day 1

Post-Merger Integration Communications Plan for Day 1

Post-Merger Integration Communications Plan for Day 1

Content

  • Communications Plan
  • Pre-Close Communications Meeting
  • Pre-Close Communications Meeting Agenda
  • Key Events
  • Day1 Town Hall Webcast
  • Week 1 Onwards - Group Function Engagement. . .
M&A Day 1 Readiness: Dry Run Session

M&A Day 1 Readiness: Dry Run Session

Agenda

  • Meeting Objectives
  • Expectations
  • Drive Run Rolls Detailed Process for Scenario Dry Runs
  • Exit Criteria
  • 2nd Day Feedback Session
  • Process Flow  - The Path of The Scenario
  • Variables Description
  • Framework - Defining the Scenarios
  • Additional Scenarios to Test . . .
Day One Post Merger Integration Overview

Day One Post Merger Integration Overview

Day 1 Welcome Packets
Message from CEO | Safety Overview | Basic FAQs | New Company Infographic | Company Vision | Email structure | FAQ process | Acquirer Swag | Pay & Benefits reminder | Checklist | What to expect soon | IT Access …
 
M&A Day 1 Readiness Checklist

M&A Day 1 Readiness Checklist

Checklist of 270 tasks. 

Status Preparation Completed by Day 1
On Track Playbooks: SC Review
On Track Corporate communications / IR review
Escalate Customer-facing Webcast
On Track Supplier-facing Webcast
On Track Employee-facing webcast with HR professionals
On Track Day 1 Timeline Completed
On Track Meet with Heads and Leads to incorporate "alignment" tactics for Day 1
Post-Merger Integration Day 1 Checklist: Over 500 Tasks by Work Stream

Post-Merger Integration Day 1 Checklist: Over 500 Tasks by Work Stream

Workstreams include: Finance, Communications, Human Resources, Safety, Information Technology, R&D, and Procurement

Day 1 Finance:

  • Coordinate with IT and business units regarding closing of periods and end of period processing
  • Ensure Acquired Co. Letters of Credit remain in place under new banking arrangements
  • Communicate Acquirer limits of authority to Acquired Co.
  • Execute funds transfer at close. . .

 
Day 1 Deliverables

Post-Merger Integration Day 1 Deliverables Checklist

Workstream

Day 1 Deliverables

Day 1 Preparation

Finance

Organization Structure

Detailed employee census, access to Acquired Co. leadership

Finance

Seamless day 1

Access to Acquired Co. systems and analysis of how they do things, review change in control

Finance

 

Change in control

All change in control issues and potential challenges resolved (Banking, Insurance, etc). . .
Day 1 M&A Integration Checklist

Day 1 M&A Integration Checklist

Day 1 Checklist in Excel of 131 tasks for:

  • Financial System Integration 
  • Human Resources
  • It Infrastructure
  • Legal
  • Purchasing /Supply Chain Management
  • Sales and Business Development
  • Project Operations 
  • Real Estate 
  • PMO
Merger Announcement Letter to Employees

Merger Announcement Letter to Employees

TO: Employees

FROM: President

SUBJECT: Merger Announcement 

Acquirer, Inc. announces that the merger with Acquiree, Inc. is now complete. Today marks the beginning of a new era for our united companies. 

News of this merger is very positive for our customers, our employees, and our communities. The combination of our companies brings ...
M&A Day 1 Communications

Day 1 M&A Communications

Deliverable and Spokespeople

  • Employee Playbook - Managers (Acquirer & Acquired Co.)
  • Customer Playbook - Sales & Marketing Organizations (Acquirer & Acq. Co.)
  • Supplier Playbook - Supplier-Facing Teams (Acquirer & Acq. Co.)
  • Welcome Week Playbook - Welcome Week Teams …
M&A Communications Timelines

M&A Communications Timelines

Day 1 M&A Communications Objectives
   –    Mark the completion of the transaction as an opportunity to honor the past and recognize the contributions of the employees 
   –    Promote the strengths and benefits of the new company, its brand and growth strategy …
Acquisition Signing Day Communications Schedule

Acquisition Signing Day Communications Schedule

Events

  • Steering Committee Call to Review Communication Plan
  • Signing
  • Acquirer Press Release Distribution
  • Acquired Co. Press Release Distribution
  • Send BU Meeting Invites
  • BU Employee Calls
  • BU Customer Calls
  • BU Customer Email
  • Supplier Calls …
Welcome Week Letter to Acquirer’s Leaders

M&A Day 1 / Week 1 Letter to Acquirer’s Leaders

Once we receive confirmation of the close date, a member of each team should reach out to facility managers/site contacts at each of the locations you’re planning to visit to discuss the day and time of each site event and your travel logistics.

Email all facility managers a copy of the Facility Managers Guide and your Welcome Week Schedule. Both are available on the Communication Document library in Smartsheet.

It may also be helpful for you to discuss any key issues or concerns the workforce has, as you prepare for meeting with employees during your visit. Some questions to consider...
Information Technology Communications: Healthcare M&A Integrations

Information Technology Communications: Healthcare M&A Integrations

Twenty M&A questions with answers from the Information Technology related to infrastructure, employees, patients, security and access, regulatory compliance, investors, partners, vendors and the media/public.

M&A Communication Playbooks

Day 1 Employee Communications M&A Playbook

Day 1 M&A Playbook: Employee Communications

Sixteen page document that includes answers to seventy-five employee FAQs, plus communication guidelines, and important talking points and messages.

Contents Page
Communication Guidance 3
Key Messages for Employee 4
Employee Talking Points 5
Employee FAQs 7
Integration Approach 10
M&A Customer Communications Playbook

Customer Communications M&A Playbook - $95 Million Acquisition

What is the purpose of this Playbook?
The 10-page playbook was developed to help customer-facing employees share accurate, timely, and consistent information with their customers about Acquirer’s acquisition of Acquired Co.

What are materials in this playbook?
The following documents are for internal use only. Do not distribute these materials to anyone outside the company:

  • Customer Key Messages
  • Customer Talking Points
  • FAQs: Customer Facing Employees
  • FAQs: Customers and Distributors. . .

Merger Communications Best Practices

Communication Guidelines for Acquirer During an M&A Integration

Communication Guidelines for Acquirer

Content

  • Communication Guidelines for Acquiree Interactions

  • General Guidelines for Answering Questions
  • General Guidelines for Addressing Difficult Audience Members
  • Know Your Audience
  • Visual Aids
  • Handouts
The 15 Most Common M&A Integration Communications Mistakes

The 15 Most Common M&A Integration Communications Mistakes

1. Shaving the truth

Protect your credibility by "telling it like it is," no matter how painful "it" may be ...
dos and donts in m&a communication

The Dos and Don'ts of M&A Communications

1. Don’t ad lib. Plan your talk carefully and follow your plan. As the senior executive in the parent company, you have little opportunity to make insignificant remarks. Practically  everything you say is taken seriously, studied for innuendo, or held up to the light for subtle implications. Even in routine conversation you need to be acutely aware of ...
Merger & Acquisition Announcements: 5 Things You Should Never Say

Merger & Acquisition Announcements: 5 Things You Should Never Say

The next time you see or read about a top executive announcing a merger/acquisition, pay close attention.  I’m betting the boss mismanages expectations by making at least one of these five common but wrong-headed remarks ...
M&A Announcements

Sugar-Coated Merger Announcements Leave a Sour Aftertaste

If you’re announcing a merger, don’t forget that you’re dealing with adults.  They prefer truth over dubious promises.  They’re irked by an unrealistic positive slant …
 
Top 10 Reasons Why More Employee Communication Is Necessary When Merging Companies

Top 10 Reasons Why More Employee Communication Is Necessary When Merging Companies

Acquisitions create an insatiable demand for communication and connection. Here are ten reasons why:

  1. More questions than answers.  Acquisitions create a lot of unknowns …

 
 
M&A Communication Strategy From A Hit Man

M&A Communication Strategy From A Hit Man

You’ve probably never heard of a guy named Robert Valentine Braddock. He’s a hit man who hangs out in Tennessee, and he has a killer reputation ...
Merger Integration Communication Lessons Learned

Merger Integration Communication Lessons Learned

Key Findings: Misses

–Large (e.g., 500+ employee) town halls in Los  Angeles, Chicago, and Phoenix

–Recorded phone messages from CEO

–Several days with excessive communications and mixed messages from multiple sources
Make A Sales Pitch for Your Acquisition but Point Out the Warning Label

Make A Sales Pitch for Your Acquisition but Point Out the Warning Label

An integration initially produces more problems than solutions.

This is the “it gets worse before it gets better” phenomenon. And it’s totally predictable ...
 
Merger Communication Best Practices

Merger Communication Best Practices

27 Merger Communication Best Practices including:

  1. Manage expectations.
  2. Articulate the compelling business rationale.
  3. Be honest and candid.
  4. Over-communicate.
  5. Create opportunities for two-way communication...
Building Employee Commitment in M&A

Building Employee Commitment in M&A

 

Business Unit Leaders should: 

  • Articulate a compelling business rationale for the deal
  • Make key decisions quickly regarding organizational structure, staffing, product rationalization, core processes, resource allocation, and performance management ...
Merger Lesson from Nobel Prize Winning Psychologist

M&A Insights Drawn from a Nobel Prize Winning Psychologist

When directly compared or weighted against each other, losses loom larger than gains.
 
You can measure the extent of your aversion to losses by asking yourself a question: ...
 
Ignore Social Media at Your Own Peril During M&A Integration

Ignore Social Media at Your Own Peril During Merger Integration

Communication problems have always ranked #1 on the list of generic problems during integration.  But they’ve hit a far higher threat level now because of today’s communication technology … 

M&A Communication Tools

Post-Merger Integration Communication Plan Checklist

Post-Merger Integration Communication Plan Checklist

9-slide presentation covers checklists for assumptions, actions, process steps, and communication vehicles.

 
M&A Integration Communication Matrices by Function

M&A Integration Communication Matrices by Function

Matrices completed by five work streams on M&A integrations. Includes instructions.

Instructions

Complete the 8 columns of the communication matrix with the following information: 

Type

What type of message is being conveyed?

·       The type of announcement; the main subject of the message

Objective

Why is the message being conveyed? . . .
Example of Completed Core Message Document and Template

M&A Communications: Core Messages Example

The example of a merger core messages document serves as content for various M&A announcements and helps ensure consistent communications throughout the organizations. The Core Message Word template is also provided.
Company Merger Announcement Template

Company Merger Announcement Template

The following includes the information to cover when announcing a merger or acquisition plus the guidelines to follow when writing the announcement.

Title:

Acquiring Company to Acquire Acquired Company (possibly mention price)

Subtitle:

Other notable information

Paragraph 1: Announcement . . .
Merger Announcement Presentation

Merger Announcement Presentation

Includes slides on:

  • The Integrated Company
  • Merger Integration Planning
  • Merger Timeline
  • Opportunities for Employees …