The quote below comes from PRITCHET, LP, a post-merger integration consulting firm based in Dallas. They use the metaphor of a gunslinger to describe those who would succeed at managing mergers. (The Merger Verger likes the metaphor and has used it previously here: Gunslinger Wisdom.)
During a merger, you need to become a bit of a gunslinger. There is real danger in waiting from problems to “draw first” … and you don’t have the luxury of taking time to aim perfectly.
We’re not advocating that you proceed with wild abandon,
but we do want to emphasize that the conservative, slow, methodical approach typically doesn’t cut it in a merger environment. That can be the most reckless strategy of all.
The Verger agrees with the good folks at PRITCHETT; they are correct that too much can go too badly wrong with a wait-and-see attitude. The idea of taking one’s time “to get it right” is yet another one of those areas where merging companies and running them are two completely different arts.
That said, it is equally important to note one element of their observation that is tucked neatly right in the middle: “We’re not advocating that you proceed with wild abandon….”