莲喇母矮将贸多大学 高级商务英语阅读 Supplementary Reading for Chapter 13 M&A:Companies Shopped-Now They've Dropped CEO Dialogue:A discussion with CEOs on key business and management themes shaping their organization's interaction with its external environment and relationship with key stakeholders. Synergies:the how and why of mergers/acquisitions Mergers and acquisitions(M&A)continue to be an important strategic option for many companies. Access to new markets,cost savings through shared services,and recapitalising a business are all attractive options for corporate strategists.While the conceptual appeal of M&A is undeniable,it is the success of the post-deal business integration that really makes or breaks the strategic play. One Australian CEO with deep experience in M&A is SPC Ardmona's Managing Director,Nigel Garrard.As Chief Executive Officer for the entity formed from the merger between SPC and Ardmona Foods late last year,Garrard has seen at first hand the challenges and difficulties in both planning a merger and getting it to work in practice.Prior to coming to SPC in 2000,Garrard also oversaw the rapid growth of Chiquita Foods in Australia,growth in which targetted acquisitions was a key feature In this interview with ceoforum.com.au's Mike Riddiford.Garrard talks about when M&A can be the right strategic option,how strategic fit can be assessed,and what CEOs need to do to make the newly-formed businesses work. Mike:What's driving M&A activities now?Is it simply about cost/economies of scale in a more competitive economy? Garrard:If I look at our own industry,scale has always been important.Obviously having a larger revenue base to sustain overseas market entry,branding activities,R&D,competitive pricing and so on will give you those efficiencies.This has always been the case,of course,but ongoing globalization of markets is making scale even more imperative. 第1页共7页高级商务英语阅读 Supplementary Reading for Chapter 13 M & A: Companies Shopped—Now They’ve Dropped CEO Dialogue: A discussion with CEOs on key business and management themes shaping their organization’s interaction with its external environment and relationship with key stakeholders. Synergies: the how and why of mergers/acquisitions Mergers and acquisitions (M&A) continue to be an important strategic option for many companies. Access to new markets, cost savings through shared services, and recapitalising a business are all attractive options for corporate strategists. While the conceptual appeal of M&A is undeniable, it is the success of the post-deal business integration that really makes or breaks the strategic play. One Australian CEO with deep experience in M&A is SPC Ardmona's Managing Director, Nigel Garrard. As Chief Executive Officer for the entity formed from the merger between SPC and Ardmona Foods late last year, Garrard has seen at first hand the challenges and difficulties in both planning a merger and getting it to work in practice. Prior to coming to SPC in 2000, Garrard also oversaw the rapid growth of Chiquita Foods in Australia, growth in which targetted acquisitions was a key feature. In this interview with ceoforum.com.au's Mike Riddiford, Garrard talks about when M&A can be the right strategic option, how strategic fit can be assessed, and what CEOs need to do to make the newly-formed businesses work. Mike: What's driving M&A activities now? Is it simply about cost/economies of scale in a more competitive economy? Garrard: If I look at our own industry, scale has always been important. Obviously having a larger revenue base to sustain overseas market entry, branding activities, R&D, competitive pricing and so on will give you those efficiencies. This has always been the case, of course, but ongoing globalization of markets is making scale even more imperative. 第 1 页 共 7 页