Major Steps to a Merger

1. Identify merger candidates and list advantages and disadvantages to a merger;
2. Arrange with an attorney to assist in the merger;
3. Meet with college leaders to determine if both parties want to pursue a merger;
4. Sign a “Do Not Disclose” agreement that negotiations and all information is to remain private even if the negotiations fail;
5. Due diligence: review these records – financial, academic, accreditation, catalogs, contracts, and legal actions filed with either party;
6. Compare information received during due diligence to the college’s current organization and legal documents;
7. Identify obstacles to the merge;
8. Prepare a financial analysis to estimate financial benefit.;
9. Select what is to be saved or terminated by the merger;
10. Prepare merger agreements and a document of integration, such as: board structure, corporate papers, policies, procedures, catalogs, schedules, new contracts, employment termination notices, marketing campaigns, and public notices;
11. Have attorneys give final review merger agreement and document of integration;
12. Arrange for review of the merger document by the Accrediting Commission and state department of education;
13. Schedule the merger;
14. Set-up support at each party to assist and guide students and employees during the merger;
15. Prepare press release on the formal notice;
16. Initiate the merger.