Aventis (A): An Odyssey of Mergers

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Case

Reference no. IMD-3-1105

Subject category: Strategy and General Management

Authors: Piero Morosini (International Institute for Management Development (IMD)); Deepak Khandpur (International Institute for Management Development (IMD))

Published by: International Institute for Management Development (IMD)

Originally published in: 2002

Version: 23.07.2004

Length: 21 pages

Data source: Published sources

Topics: Mergers and Acquisitions (M&A); Pharmaceutical; Integration; Strategy

Share a link: https://casecent.re/p/11585

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Abstract

This is the first of a two-case series (IMD-3-1105 and IMD-3-1106). On December 1, 1998, Hoechst and Rhone-Poulenc announced the merger of their life sciences business to create Aventis. This new company would be the global leader in both the pharma and agro industries. The two companies had planned to take a phased approach in implementing the merger, over several years. However, resistance from Hoechst''s largest shareholder (Kuwait Petroleum Corporation) to this phased approach led the merger being considerably accelerated and completed in just one year. Aventis managed the challenges associated with integrating this ''merger of equals'' by focusing on manufacturing rationalisation, information management and cultural integration.

Location:

Global

Industry:

Pharmaceutical

Size:

EUR14 billion, 90,000 employees

Other setting(s):

December 1998