The process of conducting and completing mergers and acquisitions in Texas and elsewhere is a weighty one. It requires the right attention to communications techniques both within and outside of the corporation. Indeed, some corporate teams exist solely to handle the dissemination of information and the substantive communications that are a part of these kinds of critical business transactions.
A merger with another company joins the two to make a modified successor that molds the best of both companies together going forward. The acquisition of a smaller company or a division or section of a larger one tries to add to the purchasing company’s market share by adding products or services, or by improving existing ones. In either event, change is taking place, and communications strategy will play an important part in the transition.
Generally, the communications group will first plan for the initial announcement of the action to be taken. This will include an internal announcement and a public announcement. There will also be a post-announcement. It is important to address the internal audience in a way that addresses the satisfaction of that group’s needs and aspirations. This communications method can help build a stronger team and greater brand trust in the long term.
Informing leading managers first and having them act as communications ambassadors is a strong way to approach internal communications. Informing employees before customers is important. Sometimes, the acquisition of assets that will lead to expanded services and/or products requires training employees to get the news out in effectively inspiring messages to existing customers.
It is wise to have a trouble-shooting cushion to handle unexpected occurrences and factual twists. Texas companies are usually well suited for carrying out the foregoing strategies through traditionally forthright communicating styles. Business transactions that bring about such substantive changes in the company itself are important enough to deserve planning at the highest levels of ownership and management.
Source: cpbj.com, “Guest view: Don’t ignore communications during mergers and acquisitions,” Mandy Arnold, Sept. 15, 2017