The Truth About Announcement Day: It’s Not a Victory Lap
By Klint Kendrick
Founder, Master Your Merger
“Announcement Day isn’t the end of the race, it’s the starting line.”
Last week, I shared a story about an acquirer’s leadership team walking into an employee meeting high-fiving like they’d just won the Super Bowl.
It wasn’t just tone-deaf.
It was a fundamental misunderstanding of what Announcement Day really is.
What Announcement Day Isn't
It’s not a celebration.
It’s not a finish line.
It’s not the time to kick back and bask in your deal-making prowess.
What Announcement Day Is
It’s the start of the hard work.
It’s when trust is either built or broken.
And it’s when your employees start watching everything you do, not just what you say.
The Value Gap Is Built (or Closed) After the Deal Is Announced
As someone who’s led over 150 M&A deals, I can tell you with confidence:
The way you lead in the days and weeks after the announcement will determine whether your deal succeeds or stalls.
Here are the three most important things you must do to build trust and close the value gap:
1. Make Leaders Available
Sure, HR might hold office hours.
But employees don’t want just HR.
They want to talk to real decision-makers the executives and business leaders driving the change.
Show up. Be visible. Be open.
📍 Hold drop-in virtual meetings
📍 Lead in-person listening tours
📍 Host raw, unfiltered Q&As
“Visibility cannot be outsourced to HR.”
One of the best examples I’ve seen: an acquiring CEO who invited the seller’s CEO to co-host the first forums. They fielded questions together, shoulder-to-shoulder.
That simple move built an authentic bridge of trust between the two companies.
2. Communicate Honestly, Even When It’s Hard
Employees don’t expect you to know everything.
But they do expect you to be honest about what you know and what you don’t.
Don’t spin it. Don’t sugarcoat it. Don’t delay the truth.
Say:
“We’re still working through that.”
“Here’s what we know today.”
“We’ll update you as soon as we know more.”
Honesty is more reassuring than polished talking points.
3. Follow Through on Every Promise
After Announcement Day, every promise is a test of trust.
If you say you’ll send weekly updates, send them.
If you promise no layoffs, stand by it, or communicate quickly if that changes.
If you say you value feedback, prove it with action.
I love using the format:
“You said X. We did Y.”
It shows people you’re listening and that you care enough to follow through.
Every Interaction Is a Signal
After the deal is announced, your employees are asking themselves:
Can I trust this leadership team?
Is it safe to stay here?
Is it worth committing to this new company?
Every update, every choice, every conversation answers that question with either yes or no.
You have the power to close the value gap, one moment of trust at a time.
What’s Next
In next week’s Master Your Merger video, I’ll share how to create early wins that boost morale and demonstrate real momentum. These small but meaningful victories can set the tone for the entire integration.
🎥 In the meantime, check out MasterYourMerger.com for toolkits, leadership strategies, and insights to help you lead people-first M&A and close the value gap faster and smarter.
