Note: Kevin J. Ryan, staff writer at Inc., is stepping in for Cameron while he is away from the computer today.
Good morning,
Mergers and acquisitions are difficult to navigate even in normal years. The task becomes significantly harder in an age of restricted travel and limited face-to-face meetings.
But founders are finding ways to do it. After a near-halt in activity during the second quarter of 2020, companies executed $2.3 trillion in deals globally in the second half of the year, an 88 percent increase from the first half. Some firms conducted due diligence and integrated their teams virtually, never meeting in person. Others found ways around restrictions in order to ensure their leadership teams gelled--and could finalize terms of the deal face to face.
Case in point: The courtship between U.K.-based Dept and U.S.-based Basic, a pair of digital agencies. Over the summer, the companies’ leadership teams got tested, flew into Dublin, and stayed together in a 13-bedroom mansion in the Irish countryside. There, they analyzed financials, enjoyed some beverages--and successfully laid the groundwork for a deal.
Check out the full story on how companies are taking unusual approaches to managing acquisitions during the pandemic. |
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