Financial Institution Group

Zurich Insurance’s $11bn Acquisition of Beazley

By Shahmir Ahmed (Bocconi University); Rakan Aqrouq, Krissa Mou, Scarlet Park and Terry Zhang (University of British Columbia) Photo: Scott Graham (Unsplash) Overview of the deal Acquirer: Zurich Insurance Target: Beazley Implied Equity Value: £8.1 billion ($10.8 billion) Total Transaction Size: £8.1 billion ($10.8 billion) Closed date: Deal announced as complete early March, 2026 Target advisor: Goldman Sachs, Lazard, UBS, J.P. Morgan, Cazenove, Barclays, Evercore, (In-Hou

akshib27

1 day ago5 min read

Nuveen’s $13.5bn Acquisition of Schroders

By Aikie Davoren, Charlie Mercuri, Cooper Thompson and Daniel Blitenthall (The University of Melbourne); Freya Zhang, Akshi Bansal, Chak Li, Jacky Chan, Sharon Liu (Hong Kong University of Science and Technology) Photo: Thanos Pal (Unsplash) Overview of the deal Acquirer: Nuveen, LLC Target: Schroders plc Implied Equity Value: US 13.5 billion (£9.9 Billion) Total Transaction Size : US $13.5 Billion (£9.9 Billion) Closed Date: Subject to Approval Target Advisor: Wells Fa

akshib27

Apr 65 min read

Santander's $12.2bn Acquisition of Webster Bank

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham), Arthus Marande, Olivia Riera Ripoll, Christopher Putnis, and Nehir Yanmaz (ESCP) Photo: Joshua Lawrence (Unsplash) Overview of the deal Acquirer: Banco Santander Target: Webster Financial Corporation Implied Equity Value: $12.2bn Total Transaction Size: ~$14.5bn Closed date: H2 2026 Target advisor: Centerview Partners, Goldman Sachs, and Bank of America Europe DAC (financial), Davis

amansp2006

Mar 275 min read

Oakley Capital's $1.34bn Acquisition of GLAS

By Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Mateo Roman Sy, Nathaline Marielle, Jeongmin Oh, Linh Nguyen, Parth Talwar (HKU) Photo: Scott Graham (Unsplash) Overview of the deal Overview of the deal Acquirer: Oakley Capital Target: Global Loan Agency Services (GLAS) Implied Equity Value: $1.34 Billion Total Transaction Size: $73.9 Million Closed date: 5 January 2026 Target advisor: Deutsche Bank (Financial), Robert W. Baird (Financial), Willkie Farr &

amansp2006

Mar 256 min read

Capital One’s $5.15bn Acquisition of Brex Inc.

By Shahmir Ahmed, Francesco Del Sesto, Víctor Varela, Elisa Nicoletti (Bocconi University), Zin Nas, Larry Cao, Lisa Dai, (Columbia University) Photo: Kelly Sikkema (Unsplash) Overview of the deal Acquirer: Capital One Financial Corporation Target: Brex Inc. Implied Equity Value: $ 5.15 billion Total Transaction Size : $ 5.15 billion (50% cash / 50% stock) Expected Close Date: Jan 22, 2026 Target Advisor: Centerview Partners LLC (financial), Wilson Sonsini and Simp

Álvaro Aguilar de Nalda

Mar 165 min read

CICC’s $16.2bn Acquisition of Dongxing Securities & Cinda Securities

By Shahmir Ahmed, Francesco Del Sesto and Elisa Nicoletti (Bocconi University); Julianna Zelnhefer, Alex Svanidze, Ryan Leo, and Ava Singer (Boston University) Photo: Ayumi Kubo (Unsplash) Overview of the deal Acquirer: China International Capital Corporation Limited (CICC) ( 601995.SH ; 3908.HK ) Target: (i) Dongxing Securities Corporation Limited ( 601198.SH ) and (ii) Cinda Securities Co., Ltd. ( 601059.SH ) Implied Equity Value: ~RMB 114.3bn total (Dongxing ~RMB 52.2bn;

akshib27

Mar 25 min read

EQT’s $3.2bn Acquisition of Coller Capital

By Ben Motamed, Charlie Bark, Archie Clarke, Emmanuel Olowe, James Midgley (Durham University); Alvaro Aguilar De Nalda (ESADE); Lisa Dai, Larry Cao, Jeffrey Kim, and Milan Agarwala (Columbia University) Photo: Piron Gillaume (Unsplash) Overview of the deal Acquirer: EQT Target: Coller Capital Transaction Type : All-stock acquisition funded thoroughly newly issued shares Total Transaction Size: $3.2 billion Closing Date: Q3 2026, subject to regulatory approval Target Advi

Álvaro Aguilar de Nalda

Feb 235 min read

Klarna's IPO

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,

martinatk05678

Dec 10, 20255 min read

Fifth Third Bancorp's $10.9bn Acquisition of Comerica

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

amansp2006

Dec 5, 20256 min read

Tata Capital's IPO

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

amansp2006

Dec 3, 20255 min read