摘要
M&A projects comprise all activities necessary to execute a transaction in which companies merge or another company is acquired. M&A deals have become an important strategic option for companies, although the risk of failure is high, as empirical evidence shows. The efficient management of an M&A project proves to be one of the key success factors for such transactions. Surprisingly this factor is neglected in most academic texts and empirical studies concerning the success of M&A. Based on the differentiation of three main phases of an M&A deal the paper derives recommendations for an explicit M&A project management approach. The structuring of the project, the selection of staff and the assignment of responsibilities are identified as the most important issues. Thus a process-oriented model for successfully managing M&A projects is developed. The model may be used as a reference for managing projects similar in complexity and content to M&A deals.