Selling off whole businesses and re-investing the proceeds to grow the strongest units may create far superior value. Lead with a powerful strategy Great growth companies, like Enron or Intel, always lead with strategy, not with the deal. But, synergies must be planned for, not hoped for. Map out action steps, numerical targets, and validation. Make explicit assumptions about actions of channel partners, customers, and competitors.
Role playing how to attack the strategy frequently exposes needed fixes.
Hit the ground running. Positive momentum for de-mergers is especially crucial. Doing all this is hard work. EBF's ambition is to promote debate and discussion between top players in the academic, business and consultancy worlds and to bring a European focus to global management issues.