Sometimes partners can be very short-sighted. Some have been known to become overwhelmed by current fears or concerns, e.g., loss of a major client, and become focused on one aspect of a merger that might seem to solve a particular short-term concern. Unfortunately, this can produce a long-term disaster because other key aspects of the merger are overshadowed by an individual's particular need. Some firms move too fast or too slowly. A firm going too fast tends to decide a merger is right long before all the nitty-gritty is explored.
Disaster occurs when the problems start to come out of the woodwork after the merger is finalized.
This can often turn off or cool down the prospective candidate, and the deal falls apart. Partners often start thinking and acting like the merger is a done deal because various issued have been agreed to. Although the pressures on practitioners to seek mergers or acquisitions will be intense over the next few years, firms should approach this matter in a careful and organized fashion. The key is adequate planning, which must include complete and open discussion. The morale of partners is greatly affected by a firm's merger and acquisition plans.