At a time when investors around the world are questioning the commercial logic of mergers on the grounds that they frequently fail to meet financial expectations and business objectives, Callen and Fulbeck say there is no question that they made the right decision - particularly because of the synergy between the two companies. Callen says the merger was a relatively uneventful affair, devoid of the anxiety and acrimony which often attends mergers of this nature. Though it is too early for post mortems, Callen says the financial benefits of the merger will become evident in the present financial year. There is some scope for rationalising duplicated services, but the real benefit will be a wider range of products and services. Finding points of differentiation in a competitive market is not easy.
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