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What connects a Titanic tale
with You’ve Got Mail?

Banker John Pierpoint Morgan formed the International Mercantile Marine Company (IMM) in 1902 with one clear goal: monopolize the transatlantic shipping trade. But after acquiring several major shipping businesses, including the White Star Line, IMM was struggling. 

Over-leveraged and with inadequate cash flow, IMM was treading water even before its most prized asset, RMS Titanic, went down. The sinking dealt a near fatal blow to IMM’s reputation and its financial stability. After defaulting on its bond interest payments, IMM was forced into receivership, ultimately facing the ignominy of a reverse takeover by the White Star Line.1  

  • History repeats 

    Fast forward to 2001 and the connections with the AOL - Time Warner merger are all too clear. The ambition to combine a traditional media business with the burgeoning internet sector was epic. But a culture clash soon blew up between AOL's fast-paced, internet-driven culture and Time Warner's more traditional media environment.  

    When the dot-com bubble burst, tanking AOL’s stock value and materially destabilizing the merged entity, it was little surprise the anticipated synergies between the two companies failed to materialize, resulting in massive financial losses and a decline in shareholder value2

    Once again, executives’ best-laid plans foundered very publicly in the space between a rapidly changing landscape and lack of a cohesive strategy. 

  • Driving value 

    We applaud the vision and ambition that is essential if companies are to change the game, leapfrog their peers and drive enhanced shareholder value. But we don’t underestimate the risks. In the gladiatorial space of corporate M&A, executives need all the help they can muster to get a deal over the line.  

    Our role is to help you secure the best deal and keep your business safe from every kind of threat – from inadequate due diligence through to cyber and even environmental risk that a merger may bring with it. 

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