I've been involved in dozens of 'mergers' over the years to advise companies on which brands to keep and which ones go, how to consolidate, integrate, etc. One thing I've learned is that 'merger' is not the most accurate term 'acquisition' or 'take-over' are more reflective of reality. I see this announcement is being touted as a merger which sounds nice and cooperative. Meanwhile, after the dust settles there is always one board of directors, one global CEO, one IT platform (have to realize the synergies), etc. Inevitably the bulk of these functions and others are primarily made from one of the legacy companies and I strongly doubt it will be from the Tim Hortons side. Sometimes the small fish eats the big one but not very often.
Every merger I've seen has been negotiated and planned among very few people on either side...the CEO, CFO, a handful of other executives, external advisors and of course the Board which is always the decision maker...and works in the interest of shareholders of course. The takeover side usually has more people involved because they feel victorious and will be responsible for the integration. The side being taken over always overestimates their future influence.
