By Amya Hillis, Jacob Liu, Agastya Mittal, and Dirk Harrison (Columbia University); Shahmir Ahmed and Francesco Del Sesto (Bocconi University) Photo: Jonas Leupe (Unsplash) Summary of IPO The buy-now-pay-later (BNPL) model and broader shift to online commerce have reshaped consumer finance over the past decade, and Klarna has been one of the central players in that transition. Founded in 2005 in Stockholm, Klarna built a platform that lets consumers split payments, pay later,

By Alvaro Aguilar De Nalda, Giuseppe Mazza (ESADE); Alexander Svanidze, Ava Singer, Ryan Leo, Julianna Zelnhefer (Boston University) Photo: Eduardo Soares Overview of the deal Acquirer: Fifth Third Bancorp Target:  Comerica Inc. Implied Equity Value: $10.9 billion Total Transaction Size:  $10.9 billion   Closed date:  Expected Q1 2026   Target advisor: Goldman Sachs (Financial) and Sullivan & Cromwell (Legal)   Acquirer advisor:  J.P. Morgan (Lead Financial), Keefe, Bruyette

By Oluwafemi Adesuyi, Archie Clarke, James Midgley, Ben Motamed (Durham University); Rakan Aqrouq , Krissa Mou , Terry Zhang, Scarlet Park (University of British Columbia) Photo: Scott Graham Summary of IPO Tata Capital (NSE: TATACAP), a subsidiary of Tata Sons, is one of India’s largest non-banking financial companies (NBFCs), acting as a one-stop financial solutions partner for retail, corporate, and institutional customers. Classified as an Upper Layer NBFC in 2022, the fi

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