The Merger Mogul
Authors: Donna Every
The Merger Mogul
By Donna Every
The Merger Mogul
Copyright
© 2012 by Donna Every.
All rights reserved.
No part of this
publication may be reproduced, stored in a retrieval system or transmitted in
any way by any means, electronic, mechanical, photocopy, recording or otherwise
without the prior permission of the author except as provided by USA copyright
law.
Scripture quotations
are taken from the Holy Bible, New International Version ®, Copyright © 1973,
1978, 1984 by International Bible Society. Used by permission of
Zondervan
Publishing House. All rights reserved.
This book is a work
of fiction. Names, characters, places and incidents are either products of the
author’s imagination or are used factiously.
Cover
design © 2012 by Robin Belle.
Contact at
[email protected]
All rights reserved.
1
New York Times September
18, 2008
Caveat Emptor! Let the
buyer beware.
Commenting on the collapse of
Shellbury Investments after its merger with Offshore Savings and Loans, the
Merger Mogul, Daniel Tennant, CEO of Tennant Consulting said: “People don’t
usually go into marriage expecting to get divorced, but divorce happens. That’s
why they should protect themselves with a prenupt. In the world of M&
As
there are no prenupts and no guarantees. When I’m
the consultant on a merger I do everything to make sure that the fit is right
and I try to leave no stone unturned in the due diligence, but no deal is
perfect and we have little control over what happens afterwards.
Caveat Emptor!”
Shellbury Investments was the
client of Barton Phillips, a merger consultant who has been around since the
boom days of M&
As
…
Daniel Tennant
put down the New York Times as his intercom buzzed.
“Barton
Phillips for you on Line one and he doesn’t sound too pleased,” advised
Margaret Bryce, his Personal Assistant.
“Great! Perhaps
next time you might want to check if I’m available to take the call then,” said
Daniel caustically.
“Might as well
take the medicine now,” said Margaret who had read the article in the office
copy of the Times and therefore had an idea of what was about to hit the fan.
Daniel pressed
Line one. “Barton. What can I do for you?” he asked cordially.
“You can stop
trying to damage my reputation to start with,” replied Barton hotly. “You know
as well as I do that a lot of mergers fail and through no fault of the
consultant.”
“I totally
agree. That’s why I said the buyer should beware. I meant of the
target, Barton, not the consultant. How
could that
be
damaging to your reputation? Is there anything else I can help you with? Would
you like some advice on a more thorough approach to your due diligence?”
“That’s pretty
libelous, Tennant. You’re insinuating that my client’s merger failed because of
poor due diligence on my part. If that’s your strategy to get clients,
you’d better find another one or you’ll be hearing from my lawyer!” With that
Barton Phillips slammed down the phone.
Great start to
the day but not surprising, thought Daniel, looking out of the glass front of
his office at the Manhattan skyline. The onset of the recession meant that
M&As were beginning to decline, so the merger consultants were beginning to
jostle for position to get the choicest morsels before only the carcass was
left. If he was totally honest with himself, he was just like the rest of
them. As long as the mergers kept coming he was happy. His job was
to put them together. If they couldn’t stay together afterwards that was
not his concern. Everyone knew that the ones who benefitted most from
mergers and acquisitions were the consultants.
He’d started
his business in 2000, one of the best years for M&
As
but the next two years saw a slump in the market. Thankfully, he’d made some
good money in that first year and with his overheads still fairly low, he was
able to hold on until things started to improve. He had worked hard to get
where he was, to earn the reputation as ‘The Merger Mogul’ and the lifestyle
that went with it, and he’d be damned if he was going to sit by and watch his
company shrink with the market.
“In here now,
Margaret!” He ordered through the intercom.
Margaret Bryce
was in the office in less than a minute. After working with Daniel since
the start of Tennant Consulting eight years ago, she knew all of his
moods. It would be an understatement to say that this was not a good one.
Perching on one of the chairs opposite his massive oak desk she waited, with
her pen poised above her notepad, pretending to be oblivious to the tension in
his office. His thick black hair looked as if he’d been running his hands
through it and his navy blue eyes lacked warmth.
“Since when do
you send me calls without screening them, Margaret? You know me well enough to
realize that I don’t take
medicine
unless I absolutely have to.”
Daniel began to rub his temples at the beginning of yet another
headache. He’d been getting them quite frequently and they were beginning
to irritate him.
“Sorry boss,
but you must admit that comment was kind of harsh, even for you.” She had
no qualms about speaking her mind to Daniel.
“Reality is
harsh! That’s why mergers don’t always work out – the plans often don’t take
reality into account. Due diligence is a major factor! And it’s still not
foolproof. It’s like a marriage in more ways than one. That’s why I
prefer to stay single. Less messy!” he added cynically.
“For someone
who thrives on mergers, you’re awfully cynical about a merger in your own
life,” she replied.
“I have no
problem with personal mergers as long as they’re temporary. It’s just
marriage that I’m staying clear of. Now is everything set for the retreat
tomorrow?”
Daniel and his
consulting team were taking the day off, checking into a spa resort where they were
having a spa treatment and then spending the rest of the day brainstorming
about how to take the company forward, in light of the changes in the Mergers
& Acquisitions market. They had just lost a huge merger which was stopped
because of the antitrust laws and that had been a big blow. They needed some
new consulting services to keep the business thriving and they needed them
soon.
“Of course!”
said Margaret. “I’ve arranged for the team to have an early check in at 10.00 a.m.
and the spa treatments begin at 11.00. Everyone has a room booked so that
they can settle in before the treatment and the brainstorming session.
Since
it’s
Friday, I’ve arranged for you all to stay
overnight and check out on Saturday morning rather than fight the traffic. OK?
I’ve sent the itinerary to everyone.”
“This is going
to cost a bomb! We’d better come up with some ideas to pay the bill,” joked
Daniel drily. “To tell the truth, I’m looking forward to the break. I’m tired,
but my juices will start flowing once I’ve had a good massage and relax a
bit. Which reminds me, did you book The Bridge Café for my date with
Angela Pierce tonight?
“Yes, of
course. Do you want me to reschedule that? You’ll probably need to
get to bed at a decent hour to get an early start tomorrow,” suggested
Margaret.
“Thanks for the
advice mother!” mocked Daniel. “But I’m a big boy. I can still do the dinner
and be in my bed by 11.00.”
“Alone!”
suggested Margaret. She wasn’t afraid to show her disapproval of her boss’ lifestyle.
“That will be
all, Margaret,” Daniel replied with a smile. Margaret shook her head as
she left the office.
Margaret knew
him well. Alone would be a rare thing for him. Well, not that rare
these days, considering the long hours he had spent working on that merger that
the Government put a stop to and, before that, getting disentangled from a
relationship that had become a bit too demanding for him. So maybe that
was why he was getting these headaches. He’d been looking forward to this date
with great anticipation. Unfortunately, his plans would have to wait until
after the retreat. Work came first with him.
Women were
great, but a profitable company, a healthy stock portfolio and some good real
estate investments were even better and definitely harder to come by.
Once you acquired the latter, they appreciated with a little maintenance and
care. Women, on the other hand, were easier to come by but took a great
deal more maintenance and he didn’t have the time or inclination to give that
right now. His company needed his attention. Angela appeared to be fairly low
maintenance and undemanding, but he’d only just met her, so time would tell.
He reached for
the phone on his desk. “Margaret, call Angela and confirm the time for dinner
and then bring me two pain killers.”
Margaret took
two Advil from her desk and went to the small kitchenette for a glass of water
for Daniel. At 50 years old she was only 15 years older than Daniel but
she felt like a mother to him. Although she and her husband Bob had been
married for 26 years they’d never been blessed with children of their
own. However, over the years, they’d had more children around than she
could count. Young people seemed drawn to her and Bob and they’d often
had a house full of nieces, nephews or neighbors which gave them both great
joy.
She had been
surprised when Daniel hired her eight years ago, not that she wasn’t more than
competent to do the job, but when she met him she thought that he would have
gone for a younger and more glamorous PA. Once she got to know him better, she
realized that he’d probably been drawn to her as a mother figure, since his own
mother had died when he was in law school and she found out recently that he
hadn’t seen his father in 25 years. At first she thought him quite cold and
heartless, in both his business dealings and his brief relationships, but she
now recognized it for what it was: a façade to protect
himself
from being hurt or used.
Over the years
their relationship had grown beyond that of employer/employee although, in the
office, she respected his position as her boss. She’d cooked more meals for
Daniel and had him over to her house more times than she could count. He was
the closest thing she’d come to having a son and she was touched when he asked
her to be his next of kin in case of any accidents. So she was becoming
quite worried with all these headaches he was getting recently and she wished
he would go to a doctor, but Daniel was pretty stubborn. She also knew that he
didn’t forgive easily, so she wasn’t looking forward to the volcano that was
going to erupt when he found out that she’d been involved in something that
would probably mess up his carefully planned life.
2
Daniel and
Angela were shown to one of the coveted tables next to the glass front of The
Bridge Café, one of New York’s finest restaurants, with its spectacular view of
downtown Manhattan. The high rises across the river shimmered against the night
sky like jewels on black velvet.
The waiter
placed their menus in front of them, said he would return shortly to take their
drink order, and retreated discreetly.
“This is
wonderful,” Angela said appreciatively. “It’s the first time I’ve been
here but I’ve heard a lot about it.”