Audio – For best M&A results? Don’t forget the fish and the booze!
There is an entire industry out there about what to do to make a merger a success. Many of us know bankers or lawyers who work for weeks and hours on end just to make sure their deals are perfectly done with all the t’s crossed and the i’s dotted.
Millions of dollars are spent on just teaching people the best way to get a transaction from idea to completion.
In fact, we found out this week that sometimes the key to a good deal is a plate full of small, pickled fish.
Well, at least if you’re negotiating with Alcoa’s Chief Executive Klaus Kleinfeld.
Kleinfeld, speaking at the annual Reuters Global Mining and Steel Summit described how he and his counterpart recently structured a deal and decided that it was the best thing for both companies. His thoughts were instructive to dealmakers who right now might have a little more time on their hands and might be looking for new ways to seal a deal.
Anyway, even if the deal doesn’t get done, it sounds like it was a pretty fun night.
Kleinfeld was one of the featured speakers at the summit, which continues through Thursday in New York, London and Sydney. The Summit program is in its fifth year, and in 2009 will include top-level executives from industries and sectors including everything from Infrastructure; to Global technology; to Investing in India, China, Japan and Russia; to Islamic Banking.
The Summits continue next week at the annual Global Food and Agriculture Summit with guests in the U.S. and Asia from March 16-19; and the Funds Summit in Luxembourg on March 17-18.