ABSTRACT
This chapter suggests that post-merger growth has less to do with achieving cost synergies and improved efficiencies, for example in corporate sourcing or production, but more with the right strategic growth rationale, selection and combination of assets and capabilities. It argues that post-merger success measured through shareholder value return ultimately occurs only as a result of a continuous internal growth of the combined post-merger organisation after the successful integration of the acquirer's and acquired resources, assets and capabilities. The chapter provides a novel approach to the strategic management of mergers and acquisitions that emphasises due diligence reviews and post-merger performance planning. In the post-merger integration phase, the target's resources, assets and capabilities, identified during the transaction phase, are integrated into the new post-merger organisation. A post-merger growth due diligence audit also enables a systematic analysis of the targets' future growth potential for the buyer within the scope of a combined business.
