Public company merger - medical devices industry

Situation The boards of two companies, with different products but similar marketing channels, had an "in principle" agreement to merge. As one director was common to both boards, the transaction required both shareholder and court approval. Key managers lived in the UK, USA and Western Australia.

Task Thirdman was engaged to manage the process and provide independent advice to each party on the resolution of key issues.

Action Appointed chairperson to run merger workshop in the UK. Surfaced key underlying issues and facilitated resolution of conflicts, namely control of capital and board structures. Managed the process, two teams of lawyers, investigating accountant and auditors.

Result Project completed to timetable, under budget and approved by shareholders and courts without issue. Significant cost savings achieved by delaying timing on engaging second team of lawyers.