On Message: Inside the war room - surviving a hostile bid

Seeing the words ‘hostile bid’ in relation to Paramount and Warner Bros Discovery will have caused many a double take. Once, we saw a lot of aggressive takeovers, prolonged battles, accusations and counter-accusations, and all manner of tactics deployed, some above board but others downright underhand.

Not so much these days. For the media they are manna from heaven, a genuine gladiatorial contest that depending on the personalities and companies involved and the sum being offered can hog headlines for weeks, if not months. For the comms advisers, they require a very different way of working.

From the off, the tone is altogether combative. Usually, each side will establish for their bid team a ‘war room’ – which says it all. It is a no-holds barred; high stakes conflict. Sometimes, it may be conducted politely but often, it can descend into mud-slinging, the like of which is rarely seen in public.

While strategy documents are prepared, it is perfectly likely that private detectives will be ordered, discreetly of course, to dig into the opposing senior management. Those with long memories in the UK will never forget how ICI, then a stately chemicals group, an industrial bellwether, was subject to attack by the ultra-expansionist Hanson conglomerate. Given their nature, the supposition was that this was a done deal, that ICI would roll over and concede. But ICI fought back and unearthed damaging personal material about senior members of the Hanson board and how the company was treated as a private cash cow. Hanson beat a hasty retreat and never recovered.

We’ve had plenty of similar instances; we’ve seen, too, bosses squaring up to each other in the street – witness Philip Green’s putative strike on Marks & Spencer and his confrontation with Stuart Rose. There have been phone taps and bungs, people followed and photographed – nothing is off limits, although it is worth stressing, apparently done without the protagonist’s knowledge.

Where does this and more, leave the comms folks? Be prepared. Forewarned is forearmed. That means you and your colleagues taking a hard look in the mirror. If there are skeletons, be aware. If that sounds OTT, realise that you have no time – if the media, social media, is carrying a harmful item, you must respond immediately and with certainty. Be as open as you can be, and honest and truthful, always.

This really is an instance of expecting the unexpected. It may be a takeover that is being fought over price but be under no illusion – if the enemy, for that is what they have now become, can sow the seeds of doubt concerning ability and governance in the minds of stakeholders, they will. They want to undermine, to expose cracks, raise questions. Similarly, you must do the same to them.

The struggle is all-consuming, nerve-shredding, exhausting but also energising and exciting. It should not be trivialised, but equally, do try and enjoy it.