Mergers and Acquisitions Project Minutes Committee Conference Call October 11, 2007
Present on Call: Kathy Anderson (Chair), Eric Freiburger, Bob Genau, Bob Ormsby, Kenan Stevick, and Bob Perry (Staff). Discussion and Action: 1. ioMosaic was confirmed as the contractor. Bob Perry will call Henry Ozog on Friday, October 12 to communicate the committee’s decision. 2. Bob Ormsby made the following comments for clarification of the ioMosaic proposal: The length of the book was estimated as approximately 150 pages. This is probably insufficient for treatment of both pre and post merger issues. The questions on page 6 are most relevant, and they should be addressed in the book. Often the condition of the facilities being acquired and the quality of the conduct of operations within the facility are not addressed in sufficient detail in the merger. The outline (pp. 33-37) of the proposal should specifically address these issues. 3. Kenan Stevick said that Dow had extensive post-merger actions and checklists that could possibly be shared. This is no doubt true for many companies. We should attempt to acquire as much of such information as possible. 4. Add a BP person to the committee. Initial Meeting with ioMosaic 1 The CCPS TSC is meeting in Salt Lake City on November 7-8. A Mergers and Acquisition Committee meeting room has been reserved on Tuesday evening, November 6 prior to the TSC meeting. We have the room from 4 -8 PM. If a sufficient number of committee members are planning to attend the TSC meeting, an initial meeting with ioMosaic will be scheduled. If this proves impractical due to limited attendance, an alternative meeting time and place must be quickly developed. 2. Develop a thorough understanding between the committee and ioMosaic of the book outline on pp. 33-37 of the proposal. Make necessary revisions. 3. Plan the workshops in terms of when, invited participants, and desired outcomes. It has been suggested that web conferencing rather than conventional workshops could be employed. Bob G. Perry