To think the company I work for is being taken over?

[CyanSnake]

I got quite the telling off from my boss today for referring to an upcoming “merger” as a takeover.

It was announced just before the first lockdown that we were merging with a competitor. We got all the normal spiel about opportunities for sharing experience and at the time it was stressed that this was a merger, not a takeover.

However; this competitor is three times the size of us; and since then we’ve had to change every single one of our policies and operating procedures to align with the competitor.

It was announced today that the executive board of the “new company” will be the competitor’s board in full, with the addition of one of our executives. We were also told that the legal way it would be handled was that our company would close and we’d all be transferred to the competitor...

The only sign of anything merging is that “new company” will have a new combined name...

AIBU to think if it walks like a duck, and quacks like a duck we should be able to call it a duck and stop pretending it’s a swan?

Oops! Accidentally voted YABU. YAV much NBU.

Without a doubt sounds like a takeover. Your bosses obviously don't want anyone upsetting the apple cart by calling it what it is.

Sounds like a takeover to me. Perhaps your manager is in denial?

Unless if affects your job does it matter what it's called ?

It's understandable that for internal PR purposes a merger sounds better, why do you need to be a smart alec about it?

I may be wrong but if it is a merger there will be no TUPE implications. However if it is a takeover you will have to be TUPE'd to new employer. Could be worth looking into that?

@AllThatFancyPaintsAsFair

Unless if affects your job does it matter what it's called ?

It's understandable that for internal PR purposes a merger sounds better, why do you need to be a smart alec about it?

@AllThatFancyPaintsAsFair You are the boss aren’t you

@AllThatFancyPaintsAsFair

I’m getting miffed about it because despite all the talk of a merger, I’ve had to change almost every aspect of how I do my job “because that’s how [competitor] do it.”

And it also means I’m going to be going through the TUPE process which I’ve never done before and I’m not sure what to expect.

It does make a difference.
If it's a take over then don't employees need to be officially TUPE?

No expert at all but a takeover would mean you are now employed by the bigger company.

A merger, smaller company would just change name and have a few more employees, finances, etc etc

Ha, definitely a takeover but not what your company wants to project!

[quote CyanSnake]@AllThatFancyPaintsAsFair

I’m getting miffed about it because despite all the talk of a merger, I’ve had to change almost every aspect of how I do my job “because that’s how [competitor] do it.”

And it also means I’m going to be going through the TUPE process which I’ve never done before and I’m not sure what to expect.[/quote]
Then it's a take over.

Read up on your TUPE rights. Pretty much all your pay, benefits, holiday entitlement etc should remain exactly the same even if they are completely different to the "new" companies policy.

Are either companies listed?

It’s not a merger and is unlikely to have met the old criteria for merger accounting.

You also need to make sure that your rights are being properly protected under TUPE if you are in the U.K.
www.acas.org.uk/employee-rights-during-a-tupe-transfer

They are different things - and I think true mergers are actually pretty unusual - but I can’t see what the use is in your manager getting upset about you using the term takeover.

Even if it is technically a merger, it’s clear which organisation is the lead! How pedantic.

@williowrosenburg

Both are proper listed companies. Ours has 5 offices/branches/locations and the competitor has 15.

Have a look on the Companies House website, they should have filed paperwork to do with it by now. It's quite possible that the company you work for will remain a self-contained subsidiary, but the working practices will have to be aligned with the main one.

I'd say it's very important for you to outshine your opposite number. I've been involved in a number of mergers and acquisitions and the blatant truth is you keep the people with:

1. The right attitude
2. The right skills

I'd try my best to embrace the inevitable change and keep any personal opinions out of work - otherwise it becomes "us" and "them", which you 100% don't want to be identified as acting like. What can you do that's in the best interests of your company as a whole - that's what you need to concern yourself with and will guide your attitudes, actions and behaviour.

Mergers are almost always acquisitions but it doesn't matter! What matters is your reaction to the change.

Thank you for the advice everyone.

And true TUPE should be a lift and shift of your contract to the new employer

If it's listed then the merger/take over would've been voted on by shareholders. Then publicly announced.

The meeting resolutions will prob be on the company website under "shareholder information" or something similar. See what they've called it in the resolutions.
If not just google the companies name and the word take over and merger.

Try to frame it as 'they' wanted you as it will lead to more sustainable growth for them, not that they don't want you - they've probably paid a lot for the opportunity to gain whatever skills/experience your business has. You don't buy a business that isn't desirable.

I’ve worked on a takeover before which we were told to call a merger to save the ego of the elderly owner of the company we were taking over - it was very definitely a takeover.

Have you tried checking if it was listed on the takeover panel site? Happy to check if you want to PM me, I work in investment and have copies of the daily takeover list dating back to 2017!