Dear Leah,
I'm Chief Strategy Officer and I'm watching our "merger of equals" turn into a hostile takeover.
Six months ago, we combined with a similar-sized company in what was supposed to be a partnership. Instead, their leadership team has systematically taken control of every key function.
They've replaced our department heads with their people, implemented their systems exclusively, and even changed our office culture to match theirs.
When I raised concerns about losing our company's identity, their CEO said, "Integration requires some sacrifices."
Our employees feel betrayed - they thought they were joining forces, not being absorbed. Morale is collapsing, our best talent is leaving, and clients are confused about our direction.
The board keeps saying "these things take time to settle," but it feels like our company is disappearing entirely.
Was this always the plan, or have we just handled integration terribly?
- Caught in a Hostile Takeover
Oh dear!
You haven't handled integration terribly - you've been systematically acquired while everyone pretended it was a partnership. The "merger of equals" language was either naive wishful thinking or deliberate misdirection.
DIAGNOSIS:
This was never a true merger - it was an acquisition disguised as a partnership to make the deal more palatable to your employees and stakeholders.
Their leadership team came in with a clear integration strategy that prioritised their culture and systems, while your side assumed good faith collaboration.
THE ROOT OF THE PROBLEM:
There was no genuine commitment to creating something new together. Instead, one company has been methodically replacing the other while using "integration" language to justify it. Your board may have been complicit or simply outmanoeuvred during negotiations.
THE PATH TO RESOLVING IT:
It's probably too late to reverse this, but you can still influence how it unfolds. Document what value your company's approaches and people brought that's being lost.
Present this to the board not as criticism but as risk assessment - cultural homogenisation often destroys the very capabilities that made acquisition attractive.
YOUR ROLE GOING FORWARD:
Protect your people by helping them adapt to the new reality or find better opportunities
Preserve institutional knowledge and relationships that risk being lost
Learn from this for future transactions - "merger of equals" without equal power structures is just acquisition by another name
Consider whether you want to be part of building something new or if it's time to move on
Sometimes the most strategic thing you can do is document the disappearing act before you become part of it.
