• Belgacom's Acquisition of Telindus: A One-Way Love Affair (A)

      Verweire, Kurt; Greef, Ghita; De Buyst, Didier (2009)
      This is the first of a two-case series (309-068-1 and 309-069-1). The Belgacom-Telindus cases revolve around corporate strategy and in particular the decision of the corporate parent to grow and expand the company via an acquisition. They lead the student through the dynamics of an acquisition and serve to highlight the different strategic decisions involved before, during and after such a deal. Case (A) covers the pre-deal phase and looks at the strategic rationale, strategic fit and potential synergies. It recounts the unsolicited bid by the Belgian telecommunications operator, Belgacom, for an international information and communications technologies (ICT) network integrator, Telindus, in a highly volatile and consolidating ICT industry. With its traditional core business under threat from new technologies, such as mobile telephony, the profitable Belgacom looks to acquire an integrator that will ensure that its top client base is secured, and possibly assist to better position Belgacom to offer corporate clients advanced communication and network solutions in the future. Due to the hostile nature of the bid, Telindus is shocked and swiftly starts talks with long-term business partner France Telecom. When France Telecom makes a counterbid for Telindus, the nature of the acquisition changes drastically for Belgacom. Belgacom decides to react swiftly and launches a higher bid. One week later, the company reports it has over 90 percent of Telindus shares. Telindus is now part of the Belgacom Group. Case (B) delves into the post-deal phase and the chosen and implemented integration approach, as well as the organisational and cultural fit between the two organisations.
    • Belgacom's Acquisition of Telindus: Managing a Marriage of Convenience (B)

      Verweire, Kurt; Greef, Ghita; De Buyst, Didier (2009)
      This is the second of a two-case series (309-068-1 and 309-069-1). The Belgacom-Telindus cases revolve around corporate strategy and in particular the decision of the corporate parent to grow and expand the company via an acquisition. They lead the student through the dynamics of an acquisition and serve to highlight the different strategic decisions involved before, during and after such a deal. Case (A) covers the pre-deal phase and looks at the strategic rationale, strategic fit and potential synergies. It recounts the unsolicited bid by the Belgian telecommunications operator, Belgacom, for an international information and communications technologies (ICT) network integrator, Telindus, in a highly volatile and consolidating ICT industry. With its traditional core business under threat from new technologies, such as mobile telephony, the profitable Belgacom looks to acquire an integrator that will ensure that its top client base is secured, and possibly assist to better position Belgacom to offer corporate clients advanced communication and network solutions in the future. Due to the hostile nature of the bid, Telindus is shocked and swiftly starts talks with long-term business partner France Telecom. When France Telecom makes a counterbid for Telindus, the nature of the acquisition changes drastically for Belgacom. Belgacom decides to react swiftly and launches a higher bid. One week later, the company reports it has over 90 percent of Telindus shares. Telindus is now part of the Belgacom Group. Case (B) delves into the post-deal phase and the chosen and implemented integration approach, as well as the organisational and cultural fit between the two organisations.
    • Deloitte's Merger with Andersen in Belgium: A Better Organization for the Ones to Follow (B)

      Greef, Ghita; Verweire, Kurt (2009)
      This is the second of a two-case series (310-025-1 to 310-026-1). The Deloitte-Andersen cases describe a successful merger between two big professional service firms, Deloitte and Andersen in Belgium. The cases lead the student through the dynamics of a merger of equals and serve to highlight the different strategic decisions involved before, during and after such a deal. The (A) case covers the pre-deal phase and the first year of the integration. After the Enron scandal, Andersen Belgium has to ally with one of the competitors to survive. In Belgium, Andersen has chosen to merge with Deloitte. The case illustrates how and why Andersen and Deloitte have chosen a merger of equals. Furthermore, the (A) case describes the first integration steps the different business units have taken in the year following the merger. The (A) case ends with some challenges the top management team has to tackle. Deloitte has addressed these challenges fast and well. The (B) case describes how managers in the business units and at the corporate center have dealt with the integration challenges over the period 2003-08. Overall, the merger has been a huge success and Deloitte is now an indisputable market leader in Belgium in audit, tax, consulting, accountancy, and corporate finance. The (B) case delves into the post-deal phase and outlines the chosen integration approach. The case is interesting because it addresses how the managers of the new company have tried to achieve organisational and cultural fit in a merger of equals.
    • Deloitte's Merger with Andersen in Belgium: Exploring the Process of Integration (A)

      Greef, Ghita; Verweire, Kurt (2009)
      This is the first of a two-case series (310-025-1 to 310-026-1). The Deloitte-Andersen cases describe a successful merger between two big professional service firms, Deloitte and Andersen in Belgium. The cases lead the student through the dynamics of a merger of equals and serve to highlight the different strategic decisions involved before, during and after such a deal. The (A) case covers the pre-deal phase and the first year of the integration. After the Enron scandal, Andersen Belgium has to ally with one of the competitors to survive. In Belgium, Andersen has chosen to merge with Deloitte. The case illustrates how and why Andersen and Deloitte have chosen a merger of equals. Furthermore, the (A) case describes the first integration steps the different business units have taken in the year following the merger. The (A) case ends with some challenges the top management team has to tackle. Deloitte has addressed these challenges fast and well. The (B) case describes how managers in the business units and at the corporate center have dealt with the integration challenges over the period 2003-08. Overall, the merger has been a huge success and Deloitte is now an indisputable market leader in Belgium in audit, tax, consulting, accountancy, and corporate finance. The (B) case delves into the post-deal phase and outlines the chosen integration approach. The case is interesting because it addresses how the managers of the new company have tried to achieve organisational and cultural fit in a merger of equals.