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 Arthus Marande, Christopher Putnis, Namien Koné, Mattia Colombo (ESCP); Freya ZHANG, Jacky CHAN, Sharon Liu, Akshi Bansal, Chak Li (HKUST). Photo: Khanh Nguyen Overview of the deal Acquirer: Blackstone, TPG, and other minorities (ADIA, GIC) Target: Hologic, Inc. Implied Equity Value: $17.67bn Total Transaction Size: $18.3bn (EV) Closed date: Pending; expected H1 2026 (45-day go-shop in the agreement) Target advisor: Citi (Financial); Kirkland & Ellis (Legal); Ropes & G

By Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Aman Prasad, Ibrahim Demir, Jiaqi Tang, Oli Greenhalgh (University of Birmingham) Photo: Florian Olivo Overview of the deal Acquirer: PIF, Silver Lake, and Affinity Partners Target: Electronic Arts (EA) Total Transaction Size: $55 billion Closed Date : Expected in Q1 FY27 Target Advisors: Goldman Sachs & Co. LLC (Financial); Wachtell, Lipton, Rosen & Katz (Legal) Acquirer Advisors : J.P. Morgan Securities LL

By Parth Talwar, Mateo Sy, Grace Pui, Karson Shi (HKU) Photo: Arpad Czapp (Unsplash) Overview of the deal Acquirer: Sycamore Partners...

By Edward Fung, Freya Zhang, Kelvin Chan (HKUST); Terry Zhang, George Luo, Leo Wu (UBC) Photo: Bloomberg Overview of the deal Acquirer: ...

By Edward Fung, Freya Zhang, Henry Yum, Sanghyeon Kim (HKUST); Moritz Ibe, Avital Anoff, Lukas Ehrlich, Annant Bhargava (University of St...

By Aman Prasad, Andrea Defilippi, Jase Lall, Jill Shah, Sharmell Sonia D’Silva (University of Birmingham); Terry Zhang, George Luo (The...

By Edward Mazin, Ryan Trachuk, Olin Duncan, Charlie Hogshire, Caden Viehe, Brendan McNulty (UCLA); Amarthya Chandrappa, Howard Fang,...

By Aman Prasad, Andrea Defilippi, Jase Lall, Jill Shah, Sharmell Sonia D’Silva (University of Birmingham) Photo: Richard B. Levine...

By Jens Bager, Sam Elfström, Elliot Christophers (Stockholm School of Economics); Annabel Lai, Edward Fung, Kelvin Chan, Krist Ou (Hong...

By Zoe Thaller, Arthus Marande (ESCP); Amya Hillis, Abraham Vongkhamdy, Irene Souny Bihr, Leo Fridjhon, Janira Martinez, Christian...

By Moritz Ibe, Ben Preece, Avital Anoff, Annant Bhargava (University of St Andrews); Haci Eren Sidar, Leon Gaster, Adalia Melvin, Aviral...

By Jack Liang, Anastasia Malikova, Shir Lyn Lau, Hunter Pang (LSE); Maximilien Kender, Jules Bedrossian and Amin Ouamar (HEC Paris) Photo:...

By Sam Elfström, Elliot Christophers and Jens Bager (Stockholm School of Economics); Zoe Thaller, Nesrine Gharbe, Stanislas Chamaud, and...

By James Searle, Greg Dargue, Cameron Hansell, Ben Motamed (Durham University); Aviral Jain, Leon Gaster, Adalia Melvin, Haci Eren Sidar...

By Yuyu Huang, Kelly Liu, Jenny Sun, Henry Yao (John Hopkins University) ; Pierre Caye, Cédrik Nadeau (McGill University) Photo: ...

By Edward Mazin (UCLA), Adam Bernabeu, Mahaut Bonnet de Roovere and Malo Inizan (HEC Paris) Photo: Ahmer Kalam (Unsplash) Overview of...

By Kevin Xu, Nancy Huang (Melbourne University), Annabel Lai, Sanghyeon Kim, Freya Zhang, Edward Fung (HKUST University). Photo: Markus Spiske (Unsplash) Overview of the deal Acquirer : Blackstone Target : AirTrunk Total Transaction Size : AU$24 billion (US$16 billion) Closed date : N/A (Pending approval by Australian Foreign Investment Review Board) Deal Announcement Date : 09/04/2024 Target advisor: Goldman Sachs, Macquarie Capital, Grant Samuel (financial); DLA Piper,

By Pierre Caye (McGill University), Jonathan Lui, Erica Chan, Hunter Pang, Lasheeka Ramesh (London School of Economics) Photo: Thomas...