Knowledge transfer in post-merger integration management: case study of a multinational healthcare company in Greece

Faced with demanding time constraints and the need to compete and communicate across a global market, firms have engaged in mergers and acquisitions (M&As) to accomplish various objectives, including, but not limited to, increasing growth potential and expanding product lines. Given the vital role of knowledge in the M&A context, the aim of this case study is to explore the literature in the area of M&As from a knowledge perspective and to investigate the knowledge variable in the local Hellenic Post-Merger Integration (PMI) of the Roche Consumer Health division acquired by Bayer, both leading multinational pharmaceutical companies. The study focuses on whether the stakeholders think that one specific factor, namely knowledge transfer, has helped them develop towards one high-performance body, and, if so, what were the most significant experiences leading to this development. We followed a number of employees from both. The results of the study provide a better understanding of the key drivers of the knowledge transfer in a PMI. The critical factors (macro and micro) encourage or discourage knowledge transfer in integrating organizations. The assessment took place approximately six months after the contractual completion of the acquisition and was based on the management and co-workers’ perception of how integration at the Greek Bayer company had progressed. The Orton case study was developed as a complement to the theoretical framework on intangible synergies in the M&A context. It provides a practical perspective regarding the complexities and peculiarities involved in each M&A operation by confronting the conceptual framework with field realities.