The Reality of M&A Governance

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"Farsam Farschtschian's analysis of M&A and the board of directors' evolving responsibilities addresses the subject in a way that has never been done before (.). I believe that this analysis is, in many ways, highly original. His work is greatly enriched by the detailed depiction of the reality of top management's work in the context of M&A and by the exploration of how experienced business leaders think about these matters and have dealt with them. Dr. h.c. Helmut Maucher, Honorary Chairman of Nestlé"Farsam Farschtschian does a magnificent job in analysing and sharing with us his insights on how to bring companies together. Farsam proves there is a common theme of clear decision making, clarity of purpose, and the ability to focus on the right things as the key to successful M&A. If you're a board member of a small, medium or large company, or have the ambition to be one, this book is a must read."Rene Schuster, CEO Telefonica Germany "The key conclusion of this important book, that the role of the board in M&A transactions is over-estimated, allows firms to structure the co-operation between board and management in a manner which will be beneficial not only for future transactions, but also for the success of a firm in general: the board should concentrate on having the right team in place, guide it where necessary, make sure there is proper monitoring and a 'lessons learned' culture for both the process and even more importantly the integration phase."Prof. Dr. Rolf Watter, Partner Bär & Karrer AG "The author treats one of the most important subjects in M&A: the decision making process of the acquirer and the influence of governance structures on the success of an acquisition. This work can be recommended to all M&A practitioners andto all board member and managers who take part in an acquisition." PD Dr. Urs Schenker, Managing Partner, Baker & McKenzie Zurich "Ultimately, in M&As, human factors and the ability to interact effectively with decision-makers within the given corporate governance structure are key. Farschtschian's book is an illuminating scientific and empirical study which makes a Valuable contribution to current M&A praxis."Dr. Dirk Notheis, Chairman Morgan Stanley Bank AG