Question
Need help in rewriting this in my own words, please. In February of 2007, the deal was made: Smiths bought BBA for the astronomical sum
Need help in rewriting this in my own words, please.
"In February of 2007, the deal was made: Smiths bought BBA for the astronomical sum of $160 million, four times the turnover of BBA (Sousa, 2021)." Smiths paid a huge amount to acquire BBA. The reason being, that they felt it was a good idea to acquire this company and they were aware that other companies were submitting bids to BBA. Smiths felt that they had to act fast and big to acquire BBA. They even paid cash to acquire BBA. The owners and investors of BBA wanted cash and Smiths obliged. Some issue that came to light right away was the
structure change of the company. Employees felt cheated by the new structure. "While BBA
kept some of its functions intact, Smiths' insistence that the sales teams be integrated was a
failure. Used to selling standardized products, its one-size-fits-all sales mentality couldn't cope with individual client requests for customized products (including the one-off wealthy financier
looking for a completely customized interior) that BBA's sellers were able to accommodate
(Sousa, 2021)." BBA catered to customize its products for its clients. Unable to continue to do
this caused issues that eventually led to the complete failure of the Merger and Acquisitions.
Selling to luxury clients was different than selling to everyone else. Only those who had the
funds to purchase what they especially wanted to be specialized in their vehicles would come to
BBA. In Smiths' changing this quickly rose problems that eventually lead to its demise. "'
Smiths mismanaged the merger,' said one BBA sales rep. 'It's integration dogma undermined
our sales organization, turning it into a disaster (Sousa, 2021).'"
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