1. M&A Initiative: Key Points
Summary: ECC Board of Directors M&A Initiatives Notes – Peter Stephenson, Meridien Consulting Services
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M&A Initiative: Key Points
No two situations are the same
Ensure that the ED and the Board are aligned throughout the process
M&A pursuit should be Board-driven, supported by close consultation with the ED
Develop guiding principles in advance
Develop clear and succinct views on both organization’s Vision, Programs, Services and Clients
Primary reasons to pursue include:
Improve service/access
Improve back office efficiency
Improve organizational resilience
Realize secondary benefits (leadership succession, more robust systems, etc).
Key phases include:
Initial Exploration
Proposal to Amalgamate
Due Diligence and Integration Planning
Letter of Intent
Integration Planning and Launch
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2. M&A Initiative: Phases
Summary: ECC Board of Directors M&A Initiatives Notes – Peter Stephenson, Meridien Consulting Services
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M&A Initiative: Phases
Phase
Important activities / definitions
1. Initial Exploration
Board responsibilities and ownership
Explore third party
Sign NDA
Gather information, conduct impact analysis (financial)
Align on fit
Define nature of transaction (m, a, takeover, etc.)
Define timeline
Define rationale
ED owned – present to board
Conclude with proposal to amalgamate
2. Proposal to Amalgamate
Compile phase 1 info/docs
MoU approved pending DD
Proposal includes next steps (timing, DD, etc)
Communications plan developed and approved
3. Due Diligence / Integration Planning
Board working groups lead DD and board governance
ED leads integration planning
Align to DD checklists
Align to governance issues
Align to planning issues
Conclude by drafting letter of intent
3. Letter of Intent
Formal, binding agreement to proceed
Communication plan developed
3. Launch
Any additional planning / coordination activities
Go live / kick off date set
Board meetings set
Management structure and reporting relationships in place