The Economist ran a very interesting series on six major TOMs and this article looks at some of the lessons learnt, which are very relevant to the NZ environment, and provides a scorecard for your next TOM.
It is often quoted, and even great leaders seem to forget, that history has a habit of repeating itself. Company executives, New Zealand directors and the major institutional investors (whose support is often a prerequisite) need to learn the lessons, from both overseas and at home, and think more carefully before they commit to a take-over.
NZ is too small to suffer the losses arising when large TOMs fail. The recent impact to the New Zealand economy on the near collapse of our national air carrier should be a lesson to all. Whilst there are examples of failed TOMs in NZ I have deliberately excluded them to avoid any disputes.