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Divestiture Survey Report 2013 |
Deloitte surveyed nearly 150 executives regularly
involved in divestitures to assess the past experience
of their companies, their outlook for the future, and
the challenges they face. While some findings were
consistent with the results of Deloitte’s 2010 survey,
we did notice the emergence of some new, noteworthy
themes:
Focus more on strategic, rather than financial,
considerations
Many companies are increasingly realizing that
divestitures need to become part of their core strategy
rather than simply a way to improve finances.
Be a prepared seller
Careful preparation, including approaching the sale from
the buyer's perspective, is important to increasing
transaction value and reducing time-to-close.
Don’t neglect people issues
Keeping employees motivated and providing clear
line-of-sight into the divestiture strategy is critical
to retaining and mobilizing talent around executing the
transaction.
Consider cross-border deals
U.S. companies have historically preferred selling to
domestic buyers, but a global perspective can result in
more bidders and higher value.
Learn to manage TSAs/stranded costs
Transaction Service Agreements (TSAs) are viewed as a
necessary evil by many companies, but they can be used
as a strategy to close deals. |
