Module V· DACH Specifics in M&A AccountingAdvanced
Question
How do co-determination rules affect M&A deal structuring and synergy realization?
Answer
German co-determination and works council rules can affect timing and feasibility of headcount reductions, site closures, integration, and governance. They may slow synergy capture and increase cost-to-achieve. In deal models, phase labor synergies conservatively, include consultation costs, and assess board / supervisory-board implications for governance.